Singapore introduces $2 plastic notes
-
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 favorable," 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. -
10 million notes only... just like the plastic 10 dollar notes.
-
I'm looking forward to it. The plastic notes are nice
-
MAS didn't say anything about the amount of notes that they are introducing. It's just a gauge that they might release 10 Million, just like the $10 notes. However, as $2 is widely available, I think they will introduce more than 10 Million Pieces.Originally posted by matrixeg:10 million notes only... just like the plastic 10 dollar notes. -
I agree Polymere notes look nice and another good point is that it's more lasting ! That's cost saving at the end of the day. Imagine holding a soggy note everytime, the feeling is like soOriginally posted by chanff8:I'm looking forward to it. The plastic notes are nice
"yucks !".
Since we're on the Notes issue, I would like to ask one question. There's a batch of Paper Notes signed by LHL right ? -
plastic notes are better .......
would not tear easily after getting wet
-
paper or plastic is equally good as long as i have money.
-
x2Originally posted by dragg:paper or plastic is equally good as long as i have money.
-
if you are poor so what if the money is made of gold?
-
they are waterproofOriginally posted by InnoHippo:plastic notes are better .......
would not tear easily after getting wet -
me too. i will receive it during cny next yr.Originally posted by chanff8:I'm looking forward to it. The plastic notes are nice -
wonder when plastic 100 and 1k will come out
-
QFT!!!Originally posted by dragg:paper or plastic is equally good as long as i have money.
i like the plastic notes leh, feels better than paper 4 some reason, maybe scared of paper liao, lol
-
Of course... Exam papers...Originally posted by enemychaser:QFT!!!
i like the plastic notes leh, feels better than paper 4 some reason, maybe scared of paper liao, lol -
I wouldn't mind receiving notes for exams.Originally posted by chanff8:Of course... Exam papers... -
plastic notes are nice to see but not nice to use.
some machines cannot read plastic notes de..
and it's v hard to count bcos of its quality. -
but you wouldn't get soggy notes. imagine getting a stack of blackened and wet notes from a hawker.
luckily our GTM machines at MRT stations can read the notes... -
some machines cannot read meh? I thought thats the previous batch of plastic notes a few years ago?Originally posted by browniebaobao:plastic notes are nice to see but not nice to use.
some machines cannot read plastic notes de..
and it's v hard to count bcos of its quality. -
Plastic notes are good...waterproof, can take out for jogs/runs
-
But can those auto topup machine accepts these new notes?Originally posted by deathscythe99:Plastic notes are good...waterproof, can take out for jogs/runs -
All the machines will be recallibrated to accept the new notes. It's a must for all machines once the MAS releases a Legal Tender Note. Even those old coin changing machine must be made to accept the changes.Originally posted by Manager433:But can those auto topup machine accepts these new notes?
-
Originally posted by photo_seeker:
Ya. ever since he became finance minister and PM, all notes are signed by him, i tink.
Since we're on the Notes issue, I would like to ask one question. There's a batch of Paper Notes signed by LHL right ? -
yeah. in fact, most of the newer $50 notes are signed by LSL.
All ship notes are signed by Hu Tsu Tau, except $1. -
this is good news for counterfeit artist. i won't elaborate though.
-
no more counterfeit, now notes have security features.Originally posted by targa3:this is good news for counterfeit artist. i won't elaborate though.