Central Banking

Singapore intensifies efforts to cut banknote waste

Chinese dragon

The Monetary Authority of Singapore (MAS) is redoubling its efforts to dissuade the general public from using brand new banknotes in their New Year's celebrations, and today unveiled a social networking campaign for the cause.

It is traditional for people to give new banknotes to each other as gifts on the Chinese (or Lunar) New Year, which falls on January 31 in 2014. The MAS is encouraging Singaporeans to give used, but good condition, banknotes instead.

Today the central bank published a link

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