MAS and HKMA aim to green red envelopes over Lunar New Year
Monetary authorities encourage the giving of used notes or electronic cash gifts to cut waste
For Singapore and Hong Kong, green is the new red.
As the Lunar New Year holiday approaches, the monetary authorities of the two Asia-Pacific financial hubs are working to create more sustainable gift giving by encouraging the use of electronic “red envelopes” and the use of banknotes already in circulation.
Central banks in jurisdictions that celebrate the holiday typically issue commemorative coins and pump liquidity into the financial system to ensure ample cashflow during the festival. They
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