2 million more Singapore bicentennial S$20 notes to be issued to meet demand

2 million more Singapore bicentennial S$20 notes to be issued to meet demand

Bicentennial notes banks
A bank customer counting bicentennial commemorative notes at a bank on Jun 10, 2019. 

SINGAPORE: The Monetary Authority of Singapore (MAS) will issue more Singapore bicentennial S$20 notes to meet "strong public interest", it announced on Friday (Jun 14). 

An additional 2 million pieces of the commemorative notes and folders will be issued, and are expected to be available around October or November. 

MAS said the initial two million pieces issued have all been exchanged at banks within a week of Monday's launch.

"The additional issuance of S$20 commemorative notes is expected to be available around October to November," said the central bank.  

"MAS will inform the public when the new S$20 notes are available for exchange."

READ: Bicentennial S$20 notes on sale for as much as S$988 on Carousell as banks run out of stock

Unveiled by President Halimah Yacob on Jun 5 to commemorate Singapore's bicentennial, two million pieces of the S$20 notes were made available at the branches of nine major banks on Monday.

The notes were quickly snapped up, with more than half of DBS and POSB branches running out before the end of the day and at least 15 OCBC branches running out by mid-day.

By Tuesday, hundreds of listings for the bicentennial note were found on Carousell and eBay, with some being resold for as much as S$988.

The S$20 notes represent Singapore's journey to nationhood and pay tribute to forebears who laid the foundations for modern Singapore. 

The front of the commemorative note features a portrait of Mr Yusof Ishak, Singapore’s first president, alongside the former Supreme Court and City Hall, which are now the National Gallery Singapore. 

READ: A war hero, Singapore River and gold: Details of the bicentennial S$20 note

The back of the note showcases eight pioneers who made significant contributions to nation building in areas ranging from education, culture and community service to sports and defending Singapore, MAS said. Each note comes with a specially designed folder.

Source: CNA/nc(gs)

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