Dear Editor

I refer to the letter, 'Sorry, $100 notes not accepted' (ST, Feb 1).

2   The Monetary Authority of Singapore (MAS) assures the public that the incidence of counterfeit notes in Singapore is very low.

3   In the recent instance of counterfeit $100 notes, the counterfeits were of poor quality. They lacked basic security features like the watermark, security thread, intaglio or raised printing and kinegram (the octagonal foil with shimmering colours) and were easily distinguishable from genuine notes.

4   There is no reason for retailers and businesses not to accept $100 notes, as all Singapore currency notes are legal tender.

5   The public and businesses are advised to familiarise themselves with the key security features found in Singapore currency so as to distinguish genuine notes from counterfeit ones. Details of these features are available on MAS' website.

Angelina Fernandez
Director (Communications)
Monetary Authority of Singapore