Singapore’s central bank discontinues issuance of $1,000 banknote
Highest denomination will remain legal tender, but new issuance will cease at the end of 2020
The Monetary Authority of Singapore will discontinue issuing the S$1,000 banknote from next year to mitigate money-laundering risks.
In a statement, the MAS said a limited number of new S$1,000 notes – worth around US$735 – will be made available until December 2020. Notes in circulation will remain legal tender and continue to be accepted as a means of payment. Banks are also permitted to re-circulate any notes that are deposited.
“This is a pre-emptive measure to mitigate the higher money
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