MAS considers revising limits on coin payments

Singapore's central bank looks to change limits on coin payments

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