$1000 note very precious now

[scroobal]

MAS has stopping producing only the $10k note for money laundering reasons. Those remaining in circulation are still legal tender but eventually much of it will find it back to MAS. This was made public a few years back.

No notice or circular issued by MAS for $1000 note.

No sir, it is a MAS measure for our banks as ECB/UK reduced the Euro-500 note circulation from direct bank-withdrawal. Canada also dropped their CAD-1000 note several years ago. Meanwhile, Switzerland's SFR-1000 note is likely to enjoy unrestricted withdrawal at this moment.

 

[rectmobile]

There are legitimate uses for large denomination notes

1) Some money changers will give better rates on larger notes e.g.Thai money changers do want the $1,000 notes
Not only do you get a better exchange rate, it is also easier to carry a few $1,000 notes.

Exactly, i was about to mention this. I wonder if MAS take notice of the usefulness on this part of using these notes. The better exchange rate used to include $100 note as well but not anymore. It is only with $1000 notes now.

 

[johnny333]

Exactly, i was about to mention this. I wonder if MAS take notice of the usefulness on this part of using these notes. The better exchange rate used to include $100 note as well but not anymore. It is only with $1000 notes now.

In Thailand all money changers require that people show their passports. So it is unlikely that people will use 1,000 bills to launder their cash. They would stand out like a sore thumb.

As usual PAP regulations act to inconvenience the public.

 

[aurvandil]

The recent weakening of the S$ to MYR 3.03 has been attributed by some money changers to the new regulations.

 

[rectmobile]

The recent weakening of the S$ to MYR 3.03 has been attributed by some money changers to the new regulations.

Proof it. If not, you just bullshitting.