MAS: Annual report 2006 / 2007
CONTENTS
HOME
 
ENTERPRISE: Our Role
BUILDING ON A ROBUST MACROECONOMIC ENVIRONMENT
DEVELOPMENTS IN THE SINGAPORE SECURITIES MARKET
FOSTERING A SOUND & REPUTABLE FINANCIAL CENTRE
RISK MANAGEMENT & INFRASTRUCTURE
GROWING SINGAPORE AS AN INTERNATIONALLY COMPETITIVE FINANCIAL CENTRE
CURRENCY
ORGANISATIONAL INITIATIVES
CURRENCY 40
Dollars and Cents Management 40
 

CURRENCY

Dollars and Cents Management
As at 31 March 2007, the gross and active currency in circulation was S$17.6 billion (Chart 16) and S$15.7 billion respectively. The gross currency in circulation increased 7.8% over the year, with S$36.4 billion worth of notes and coins issued to banks and S$34.9 billion returned.

The Currency Interchangeability Agreement between Singapore and Brunei continues to operate in both countries. For the year in review, the total Brunei currency repatriated to the Brunei Currency and Monetary Board was B$645.3 million, B$5 million more than in 2005. The amount of Singapore currency repatriated to Singapore decreased by S$1.2 million to S$5.5 million in 2006.

In August 2006, MAS liberalised the currency reproduction guidelines to better meet the changing needs of the media industry and the business community. In the new approach, MAS laid down the broad principles for the industry to comply with and to uphold the dignity, integrity, and image of the Singapore currency, while putting more account ability on them for their actions. The number of conditions was reduced and the guidelines were made less prescriptive.

The 2006 Heritage Orchids of Singapore Coin Set.
In May 2006, we launched the 2006 Heritage Orchids of Singapore Coin Set. This inaugural issue consists of two coins featuring the beautiful hybrid orchids of Vanda Tan Chay Yan and Aranda Majula. A set of coins was also launched in August 2006 to commemorate Singapore's hosting of the 2006 Annual Meetings of the Boards of Governors of the International Monetary Fund and the World Bank Group.