S'pore introduces $2 plastic notes
 

The Business Times

Singapore

22.12.05

More Singapore money is going plastic. The Monetary Authority of Singapore (MAS), the central bank, said on Thursday that $2 polymer, or plastic, notes will be issued from Jan 12.

Their introduction comes after the first batch of $10 plastic notes began circulating in May last year. Positive feedback about the $10 note led the MAS to also introduce the two dollar purple-coloured denomination in plastic form, Philip Woo, MAS's deputy director of notes and securities, told reporters. A plastic note is expected to last three to four times longer than a paper note, Mr Woo said.

Asked about future plans for plastic notes Woo said, 'We are very confident moving forward' but added that the MAS does not have a definite time plan for a full conversion of paper to plastic. 'We are going to see how it goes. It will be done in phases and I can't set a time frame,' he said.

Paper $2 notes will continue to circulate and be legal tender, MAS said.