MAS issues $2 polymer notes

By the Monetary Authority of Singapore

Singapore, 22.12.05

The Monetary Authority of Singapore (MAS) today announced that $2 polymer notes will be issued from 12 Jan 2006, when the $2 paper notes stock is expected to be depleted. The $2 polymer notes will be introduced in phases. The paper notes will circulate alongside and continue to be legal tender.

2. From the experience in several countries, polymer notes are more durable and resistant to soiling than paper notes and are also more cost-effective. Together with the favourable feedback from the public, banks and note handling machine operators on the $10 polymer notes issued in May 2004, MAS has decided to issue $2 polymer notes.

Availability and Usage
3. The $2 polymer notes will be available at banks. MAS has been working closely with banks, transport companies and major machine operators to have the Cash Deposit Machines, MRT General Ticketing Machines and other note accepting machines recalibrated to accept $2 polymer notes.

Design
4. As with the $10 polymer notes, MAS has continued with the portrait series for the $2 polymer notes as the public is familiar with the series. The $2 polymer and paper notes have the following similarities:

• Portrait of Singapore's first President, the late Encik Yusof bin Ishak, on the front, and images related to the Education theme at the back

• Same colour (predominantly purple)

• Same size (126 mm x 63 mm)

5. We have also incorporated security features unique to polymer technology that are found on $10 polymer notes. They are:

• Two see-through windows - one on the top-left hand side, and the other at the bottom-right corner

• A stylised gold Singapore Lion symbol with a hidden image, beside the top-left hand window. An image of the Singapore Arms will appear at varying angles

• The security thread now takes the shape of the Singapore island instead of a straight line

Please see the Annex for further details.