No More new $1000 for Ang Pow Next Year - - Singapore Wacky Digital Underground Outpost

No More new $1000 for Ang Pow Next Year

From Jan 1, Singapore will stop issuing $1000.

If you are looking for new $1000 for your next year's Ang Pow, you better stock up now. From now till December, a limited quantity of $1000 will be made available each month.

The main reason for this is to reduce money laundering and terrorism financing risks. For those with existing $1000 notes, it will still be legal tender and banks can continue to recirculate existing $1000 notes.

With Paynow and other online transactions becoming popular, there might not be the need to have big bills in your wallets. You probably would not miss the $1000 note as much as you think when it's gone...

Please hor , don’t hoard and sell it for $1088 at Carousel . 

Source: CNA

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