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Will the Monetary Authority of Singapore issue more new notes during festive seasons?
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Source: https://www.mas.gov.sg 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. Lunar 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.
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.
This information provided here is sourced from the MAS website.
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