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The Monetary Authority of
Singapore (MAS) today (29 Jul 2004) announced that it will gradually introduce
new portrait notes into circulation from early August 2004 onwards.
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The design of the new notes is
similar to the current portrait notes, except that MAS' symbols replace those
of the Board of Commissioners of Currency, Singapore (BCCS).
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MAS took over the
currency-issuance function after merging with BCCS on 1 October 2002.
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While notes issued under BCCS
remain legal tender and continue to be issued, the first reprint of the
portrait notes gives MAS the opportunity after the merger to update the design
and reflect the change.
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These notes are stock
replenishment to replace soiled ones withdrawn from circulation, and to meet
any increase in demand for notes.
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The key changes are:
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a) The BCCS logo and
text "BCCS" in the optical variable device (octagonal foil) are
updated to the MAS logo and Singapore Lion symbol respectively. In addition,
the new foil has a new security feature in the form of demetallised text
corresponding to the denomination at the bottom left hand corner eg the $50
has the text "SINGAPORE 50 DOLLARS".
b) Issuing authority
is updated to "MONETARY AUTHORITY OF SINGAPORE".
c) Micro-text
"BOARD OF COMMISSIONERS OF CURRENCY, SINGAPORE" is updated to
"MONETARY AUTHORTIY OF SINGAPORE".
d) The denomination
numeral at the centre of the note is filled with the letters "MAS"
instead of "BCCS".
e) Latent image of
the BCCS logo is updated to the MAS logo.
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Please refer to Annex
A for illustrations and explanations on the key design changes.
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The new notes retain all the
security features of the existing portrait notes, including the octagonal
foil, multi-tone and highlight watermarks, security thread, intaglio (raised
ink) printing, invisible fluorescent fibres, fluorescent ink, latent images
and serial numbers.
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Two denominations, $5 and $50 will
go into circulation in August 2004. The $2 and $10 notes will be issued
in January 2005. The design for $100, $1000 and $10000 denominations
will be updated at the next reprint.
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All existing portrait notes with
symbols of BCCS will continue to circulate alongside the new portrait notes.
MAS will not make special arrangements to withdraw the existing portrait notes
from circulation.
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More.....
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Source: Monetary
Authority of Singapore Press Release 29 Jul 2004
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MAS issues new portrait notes
