MAS seeks public feedback on proposed new legal tender limit for coins

SINGAPORE (March 16): The Monetary Authority of Singapore (MAS) announced Thursday that it is inviting public feedback on a proposed new legal tender limit for coins.

Under the current Currency Act, limits – referred to as legal tender limits – are placed on the amount of each coin denomination that can be used for payment.

The existing limits are $2 per denomination for 5-cent, 10-cent and 20-cent coins, and $10 for 50-cent coins. There are no limits for payment by $1 coins.

---

Related Stories

• MAS set to hold monetary policy as inflation persists
• India’s HDFC Bank seeks Singapore bank license to grow overseas
• Singapore regulator proposes wider investigative powers

---