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Currency FAQs

Find out what are the frequently asked questions about Singapore currency.

Mutilated (Damaged) Currency

Where can I exchange my torn or mutilated (damaged) notes?

Under the Singapore Currency Act, mutilated notes command no value. However, MAS may, out of goodwill, award value to mutilated notes provided there is no evidence suggesting that they have been deliberately mutilated.

You can take your torn or mutilated (damaged) notes to any commercial bank in Singapore where you have a bank account. The bank will authenticate and assess the note before award value according to the Monetary Authority of Singapore's guidelines.

If the bank has assessed that your torn or mutilated (damaged) notes are genuine and were not wilfully or deliberately damaged, the assessed value will be credited directly into your bank account.
 
If the bank is unable to assess the value, the mutilated (damaged) note will be sent to MAS for assessment. After MAS has assessed value, the bank will credit the assessed value to your bank account.

Please let us know details of the bank and name of the counter staff via the online feedback form, if the bank is not willing to accept the notes for assessment.

Where can I exchange my mutilated (damaged) coins?

Under the Singapore Currency Act, mutilated coins command no value. However, MAS may, out of goodwill, award value to mutilated coins provided there is no evidence suggesting that they have been deliberately mutilated.

You can take your mutilated (damaged) coins to any commercial bank in Singapore where you have a bank account or deposit them at MAS' appointed Circulation Coin Operator and Manager (CCOM), Certis CISCO Secure Logistics Pte Ltd (CSL) .

The bank or CSL will assess and award value according to the Monetary Authority of Singapore's guidelines.

If the bank or CSL has assessed that your damaged coins are genuine and were not wilfully or deliberately damaged, the assessed value will be credited directly into your bank account.

If the bank is unable to assess the value, the mutilated coins will be sent to CSL for assessment. After CSL has assessed value, the assessed value will be credited to your bank account.

Exchanging Old Currency

What can I do with past series (old) notes and coins?

All currency notes and coins issued by the Monetary Authority of Singapore since 1967 are still legal tender and can be used to pay for goods and services in Singapore.

Alternatively, you can redeem past series notes and coins over the counter at a commercial bank in Singapore where you have a bank account. You may also deposit past series notes coins at MAS' appointed Circulation Coins Operator and Manager (CCOM), Certis CISCO Secure Logistics Pte Ltd (CSL)  via their self-service coin deposit machines or over the counter.

The bank or CSL will verify the authenticity of your currency before crediting the value into your bank account.

Identifying Genuine Currency

How can I verify if a note or coin is genuine?

Each Singapore note and coin has various advanced security features to minimise the risk of counterfeiting. It is important for you to be aware of these security features to distinguish between genuine and counterfeit currency.

Refer to the following to find out more about the full range of security features of Singapore currency, and ways you can identify if your currency is genuine:

Security Features of Singapore Paper Notes
Security Features of Singapore Polymer Notes
Security Features of Singapore Coins

What should I do if I suspect that a note or coin is not genuine?
Avoid using the currency and keep it in the condition as it was found or received. If applicable, note down the particulars of the person or name of the vendor from whom you received the counterfeit currency.

You should file a report at the nearest police station immediately. 

If you have doubts, you may find out how you can verify the authenticity of a Singapore currency or contact us via online feedback form to find out how you can have it verified physically.

Distribution and Issuing of Currency

Does the Monetary Authority of Singapore sell or issue uncirculated notes to members of the public?

Monetary Authority of Singapore (MAS) does not sell or issue to, or exchange new notes or coins with, the public. If you wish to have brand new notes or coins, contact a commercial bank in Singapore directly to check if they have any stock available.

When I exchange notes at the bank, why are the new notes I receive not arranged in sequence according to their serial number?

The new notes you received may not be arranged in sequence according to their serial number due to the following reasons:

  • Notes are inspected during the printing process and defective notes are rejected.
    • The serial numbers of the rejected defective notes will thus be excluded from the new notes you receive.
  • Notes are packed by automated packing machines after inspection, where notes from different inspection batches may be packed together.

The inspection and packing process is adopted for the printing of all Singapore notes.

Using Images of Singapore Currency

When do I need to request permission for use of Singapore currency images?

You must seek approval from Monetary Authority of Singapore (MAS) if you wish to import, manufacture, sell, circulate or distribute any merchandise or product containing a reproduction, design, or any part of it, used in or on any currency note or coin and conditions as defined in Using Images of Singapore Currency

Do I have to follow certain guidelines before I can use images of Singapore currency?

Yes, you must adhere to the conditions for reproduction of currency notes or coins set out in Currency Act Gazette Notification No. 2078 of 11 August 2006 when using images of Singapore currency.

Permission from MAS is required to reproduce any Singapore currency notes or coins, except for certain permissible scenarios. Find out more on how you can use images of Singapore currency.

Commemorative and Numismatic Currency

Where can I purchase past commemorative notes and coins?

Commemorative notes and coins are issued as one-off currency for a limited time only. The Monetary Authority of Singapore (MAS) and commercial banks do not carry any remaining stocks of past commemorative notes and coins. MAS also does not participate in secondary market transactions of commemorative currencies.

You may consider contacting Mavin International Pte Ltd , which regularly conducts auctions of Singapore currency. Alternatively, you may contact coin and banknote dealers to enquire about the availability of past commemorative currencies that you are interested in.

How do I redeem the face value of commemorative or numismatic notes and coins?
You can redeem the face value of commemorative notes and coins at any commercial bank in Singapore, over the counter. Do note that cash deposit machines are not calibrated to accept such currencies, which are one-time commemorative issues.

For commemorative/numismatic coins, you may approach either of the following organisations:

Find out more about the redemption of commemorative currency.

I have commemorative and numismatic coins that are rusty. Who can I approach to clean them?

You may contact the Singapore Mint with regards to the cleaning of commemorative/numismatic  coins.

General Questions

Where can I find statistical information on Currency in Circulation?

Statistical information on the value of notes and coins relating to Currency in Circulation can be found on our website. 

For information on monthly active Currency in Circulation, it can be found in MAS Monthly Statistical Bulletin - I.1 Money Supply (SGD)

Will the Monetary Authority of Singapore issue more new notes during festive seasons?
MAS issues approximately 100 million pieces of new notes to meet the demand each year during festive seasons. These new notes are used once for gifting, and a significant number are returned to MAS shortly after each festive season (e.g. Chinese New Year).

While most of these returned notes are recirculated to meet demand (e.g., replace unfit notes in circulation), the excess will accumulate and are subsequently destroyed before the end of their useful life as they far exceed replacement demand. This impacts the environment negatively, by contributing to unnecessary carbon emissions generated from the production, transportation, and destruction of such notes.

As an alternative, MAS encourages members of public to adopt digital gifting or to use fit notes for those who prefer physical gifting, to reduce wastage of resources and preserve the environment.
When will new notes for the festive seasons be available for exchange at the banks?
New notes are typically available within the 2 week period before Chinese New Year, Hari Raya Puasa and Deepavali. The public is advised to check with the banks on the actual date of availability of the notes.
Why are there only limited new notes available for exchange at the banks during any festive season?
Given the limited supply of new notes, commercial banks may set a quota of new notes issued per transaction to manage its distribution to the public during festive seasons.
Does the material used to produce polymer notes contain animal byproducts?
Independent tests commissioned by the supplier of the base material for Singapore’s polymer notes (such as the Portrait Series $2, $5 and $10 denominations) have shown that it does not have any animal byproducts such as animal DNA, cells, tallow or animal‐derived fats..
Need more help? Write to us and we will try to resolve your issue.