CONTENTS
HOME
OUR WORK - Managing Risks, Sustaining Growth
A MORE CHALLENGING POLICY ENVIRONMENT
MONETARY POLICY - PROVIDING AN ANCHOR FOR PRICE STABILITY OVER THE MEDIUM-TERM
MANAGING THE CHALLENGES OF INCREASED GLOBAL FINANCIAL UNCERTAINTY
A SOUND AND PROGRESSIVE FINANCIAL CENTRE
CURRENCY
 
CURRENCY 38
 
Managing Dollars and Cents 38
 

CURRENCY Managing Dollars and Cents

Managing Dollars and Cents

As at 31 March 2008, the gross and active currency in circulation was S$19.4 billion (see Chart 11) and S$17.4 billion respectively. The gross currency in circulation increased 10.2% over the year, with S$41 billion worth of notes and coins issued to banks and S$38.9 billion returned.

In 2007, the total Brunei currency repatriated to the Brunei Currency and Monetary Board was B$743.1 million, B$97.8 million more than in 2006. The amount of Singapore currency repatriated to Singapore increased by S$3.4 million to S$8.9 million in 2007.

A new $5 polymer note was issued in May 2007. This was the third denomination to be converted from paper to polymer, following the successful launch of the polymer $10 in 2004 and polymer $2 in 2006.

A new $5 polymer note was issued in May 2007. This was the third denomination to be converted from paper to polymer, following the successful launch of the polymer $10 in 2004 and polymer $2 in 2006.

During the year, the Notes Operation Registration Management System (NORMS) was upgraded to enhance the efficiency of our currencyissuing function.

Two new releases of real-time gross and government securities settlement system, namely MAS Electronic Payment System (MEPS+), were also introduced. This is to comply with Society for Worldwide Interbank Financial Telecommunication (SWIFT) changes and also to better cater to new operational requirements.

MAS achieved an income of S$2.5 million from the sale of numismatic coins issued in 2007.