The Monetary Authority of Singapore (MAS) is considering reducing the legal tender limits on coins, the central bank announced on March 16.
In a consultation paper, the authority invited parties to comment on proposed limits to the amount of each coin denomination that can be used for payments. Interested parties have until April 6 to respond.
Currently, the central bank places limits on denominations of less than 50 cents, for which only payments of $2 or less are legal. A payee is therefore
- Making the rules and breaking the mould (Allan Meltzer: 1928–2017)
- BoE economists criticise DSGE inflation modelling
- Indonesian deputy Perry on revolutionising monetary and financial policy
- Commission should have power to order CCPs to relocate to EU – Cœuré
- South African governor rejects calls to change mandate