The valuable bill is now redundant.
Singaporeans will now have to say goodbye to one of the world’s
most valuable paper bills. The Monetary Authority of Singapore
announced today that the $10,000-note will be abolished starting
October 2014.
According to the MAS, the discontinuation of the note’s issuance
is not expected to cause any major inconvenience.
Existing $10,000 notes will remain legal tender, but the stock
of such notes are expected to dwindle over time.
“In a similar vein, given the risks associated with large value
cash transactions and high face-value notes, MAS will be
discontinuing the issuance of the $10,000 note, starting from 1
October 2014. The development of more advanced and secured
electronic payment systems has reduced the need for large value
cash-based transactions,” announced MAS Deputy Managing Director
Ong Chong Tee.
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Lucky I have the SPECIMEN one. But got touch real one before.
