Angular 2 select option (dropdown) – how to get the value on change so it can be used in a function?

My answer is little late but simple; but may help someone in future;
I did experiment with angular versions such as 4.4.3, 5.1+, 6.x, 7.x, 8.x, 9.x, 10.x, 11.x, 12.x, 13.x, 14.x using $event (latest at the moment)

Template:

<select (change)="onChange($event)">
    <option *ngFor="let v of values" [value]="v.id">{{v.name}}</option>
</select>

TS

export class MyComponent {
  public onChange(event): void {  // event will give you full breif of action
    const newVal = event.target.value;
    console.log(newVal);
  }
}