Monetary Authority of Singapore Annual Report 2012/2013
Anchor of Economy

ENGAGING THE PUBLIC

Managing Dollars and Cents

As at 31 March 2013, the gross and active currency in circulation were S$31.6 billion (Chart 4) and S$27.9 billion respectively. The gross currency in circulation increased 9.5% over the year, with S$50.8 billion worth of notes and coins issued to banks and S$48.2 billion returned for the financial year.

In January 2013, MAS launched an initiative to encourage the use of “good-as-new” S$2 notes during Lunar New Year. “Good-as-new” S$2 notes are clean and crisp notes that are retrieved immediately after the Lunar New Year. Substituting the use of new S$2 notes with “good-as-new” ones for ‘hong bao’ reduces wastage and helps preserve the environment. Public response was very encouraging, with a take-up rate for “good-as-new” notes at about 11% of the total S$2 notes issued.

Beside the Chinese Almanac, Native Orchids and National Day Celebration coins, MAS launched and issued the Giant Panda Commemorative Coins in September 2012 to mark the arrival of two giant pandas – Kai Kai and Jia Jia, in Singapore. The coins also helped highlight the threat of extinction faced by giant pandas today and the importance of wildlife conservation. The coins come in three different versions with a similar design concept featuring Kai Kai and Jia Jia in their natural habitat. The Silver Proof Colour Coin is in a unique oval shape, the first to be issued by MAS. Each version has a limited mintage of 10,000 pieces.