SINGAPORE - Your ang pows may be filled with "good-as-new" $2 notes as there will be more of them for the coming Lunar New Year. This is to meet an anticipated increase in demand, said the Monetary Authority of Singapore (MAS).
This is the third consecutive year that MAS is issuing such notes that were retrieved immediately after last year's Chinese New Year.
Last year, 14 per cent of the $2 notes issued during Lunar New Year were "good-as-new", an increase of 3 per cent from 2013. This allowed MAS to maintain the quality of new $2 notes issued for the 2014 Lunar New Year despite the increase in demand in that year.
The "good-as-new" notes are also part of a green initiative by MAS.
"Since the 'good-as-new' $2 notes were introduced in 2013, the total energy saved from printing less new notes is equivalent to that needed to power 100 4-room HDB flats for 10 weeks. With greater awareness and support for this initiative, we can achieve even more this year," said Mr Low Kwok Mum, assistant managing director, MAS.
Both brand new and "good-as-new" $2 notes will be available at participating retail banks from Feb 2.