MAS will print new set of folders for the SG50 commemorative notes
Singapore, 21 August 2015… The Monetary Authority of Singapore (MAS) announced today that it will reprint a new set of folders for the SG50 commemorative notes. This will correct the mis-spelling of our first President Yusof Ishak’s name in the current folder. It will also replenish the current stock of folders which are being taken up much faster than expected.
2 The banks will continue to issue the current folders (which will have the corrective stickers affixed on them from 25 August onwards) with each exchange of the SG50 notes. Those who have obtained the current folders, and would like to exchange them for new ones, will be able to do so at a later date. MAS will inform the public soon on when the new folders are expected to be ready.
No Need to Rush for Notes
3 The demand for the SG50 notes and folders has been overwhelming. We have received very positive feedback on the designs and themes of the notes, which many felt were a nice memento for Singapore’s 50th birthday.
4 MAS would like to reassure the public that there will be enough SG50 notes for all Singaporeans, and there is no need to rush. A total of 20 million $50 notes, and 15 million of each of the five $10 notes is being printed. Singaporeans will have priority till 30 September 2015 to obtain the notes.
5 While the bank branches are well-stocked with the SG50 notes, time is required to arrange for the distribution of the folders to the branches each day and the banks may not be able to meet the daily high demand for the folders. If they are unable to obtain the folders, people may wish to visit the bank branches on another day. However, if they want to only exchange the notes, without the folders, they may continue to do so. There will be enough folders, especially when the new folders arrive.
6 We have also received feedback from the banks that there are customers who queue repeatedly to get more than the stipulated two folders. We would like to appeal to the public to refrain from doing so, in fairness to others.