Singapore to discontinue issuing 1,000-dollar notes as of 01.01.2021

According to a press release dated 3 November 2020, the Monetary Authority of Singapore plans to discontinue the issuance of 1,000-dollar notes from 1 January 2021 as a pre-emptive measure to mitigate the higher money laundering and terrorism financing risks associated with large denomination notes. Existing notes in circulation will remain legal tender and can continue to be used as a means of payment.

Courtesy of Aidan Work.

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