MAS to print 6 million more folders for SG50 commemorative notes due to overwhelming demand

PHOTO: The Straits Times

SINGAPORE - The Monetary Authority of Singapore (MAS) said on Thursday it is printing an additional six million folders for the popular SG50 commemorative notes as demand for them has "exceeded initial expectations".

Starting from the middle of November, two folders will be made available to every Singaporean household. They will be able to get these folders without having to obtain the SG50 notes at the banks, the MAS said in a press release.

Further details will be announced at a later date.

Singaporeans need not wait for the new folders in November to exchange for the commemorative notes. They can continue to make the exchange at participating banks and enjoy priority until Sept 30.

"There is enough supply of the notes to meet demand from Singaporeans", said the MAS.

Only Singaporeans are allowed to obtain the folders when they exchange the commemorative notes at the bank, with a limit of two folders per transaction. The MAS also urged members of the public to refrain from queueing repeatedly in order to get more than the allowed two.

Mr Andrew Khoo, MAS deputy managing director of corporate development, said: "MAS is heartened by the positive response of Singaporeans to the SG50 commemorative notes and folders and is working to ensure that all Singaporean households are able to obtain the folders".

There were long queues at banks across the island when the notes were made available for the first time on Aug 20.

The set of six notes, comprising one $50 note and five $10 polymer notes of different designs, were launched by Prime Minister Lee Hsien Loong to mark Singapore's 50th birthday.

Twenty million pieces of the $50 notes and 75 million pieces of the $10 notes had originally been printed.

The announcement comes after a glaring typo was found in the folders. The name of Singapore's first President, Mr Yusof Ishak, was misspelt as "Yusok Ishak".

The MAS said then that it would print new folders to replace them.

This article was first published on Sep 3, 2015.
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