Singapore introduces two-dollar plastic notes
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SINGAPORE : More Singapore money is going plastic.
The Monetary Authority of Singapore (MAS), the central bank, said that two-dollar polymer, or plastic, notes will be issued from January 12.
Their introduction comes after the first batch of 10-dollar plastic notes began circulating in May last year.
Positive feedback about the 10-dollar note led the MAS to also introduce the two dollar purple-coloured denomination in plastic form, Philip Woo, MAS's deputy director of notes and securities, told reporters.
"The 10-dollar polymer note was successful. The public liked it and the response was favourable," Woo said, adding that plastic notes are more cost effective because of their longer life span.
A plastic note is expected to last three to four times longer than a paper note, Woo said.
Since the introduction of polymer notes last year, Singapore has joined countries including Australia, New Zealand, Malaysia, Brunei and Indonesia which already use plastic money.
Asked about future plans for plastic notes Woo said, "We are very confident moving forward" but added that the MAS does not have a definite time plan for a full conversion of paper to plastic.
"We are going to see how it goes. It will be done in phases and I can't set a time frame," he said.
Paper two-dollar notes will continue to circulate and be legal tender, MAS said.
- AFP /ct -
see how rich we are?
new currency again. -
just curious. Lets say you subject the paper note and the plastic note to high temperature, will the plastic note melt first before the paper note even burns up?
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I think the MAS got put this into consideration before they print it bah..Originally posted by nightzip:just curious. Lets say you subject the paper note and the plastic note to high temperature, will the plastic note melt first before the paper note even burns up? -
how about stains?
one thing i know good, now cannot write on the notes liao, also if your money wet, the plastic ones are water proof, so just have to clean them with a cloth.