On 18 August 2015, Singapore Prime Minister, Lee Hsien Loong unveiled a set of six commemorative currency notes to celebrate SG50. The commemorative notes, issued by the Monetary Authority of Singapore (MAS), comprise a $50 polymer note and five $10 polymer notes, issued by MAS to mark Singapore’s 50 years of nation-building.
The $50 note shows the late Mr Lee Kuan Yew, Singapore’s first Prime Minister, shouting “Merdeka!”, the rallying cry of Singapore’s independence struggle. The note makes distinctive use of the colour gold, reflecting Singapore’s Golden Jubilee.
Five $10 notes have a common front design and varying back designs depicting the theme ‘Vibrant Nation, Endearing Home’. Each note reflects a value or aspiration that defines this theme:
‘… regardless of race, language or religion…’
‘Opportunities for All’
‘Safe and Secure’
‘Strong Families’
‘Caring Community, Active Citizenry’
Both the $50 and $10 notes have security features that are the first of their kind in the world to be used on a currency note. The security stripe on the $50 note has a unique see-through feature with “image movement effects” that create depth to the image of Mr Lee Kuan Yew. The SG50 logo has “colour-switching effects”, with the year flipping from ‘1965’ to ‘2015’. The $10 notes have a security stripe with a “switching effect” which features the Singapore Coat of Arms, SG50 logo and the years ‘1965’ and ‘2015’.
Prime Minister Lee Hsien Loong, who unveiled the notes, said: "The commemorative notes and coins thoughtfully capture some of these significant milestones and core values in beautiful illustrations.
“I hope Singaporeans will cherish the notes and coins, as well as absorb and express the lessons and values depicted on them.”
The public is advised not to rush to obtain the notes. There will be enough notes for Singaporeans.
“There will be enough SG50 notes available for exchange. A total of 20 million pieces of the $50 notes and 75 million pieces of $10 notes - 15 million pieces of each design - are being printed. There is no need to rush.”, said Dr Andrew Khoo, Deputy Managing Director (Corporate Development).
Singaporeans will be given priority to exchange the notes from 20 August 2015 to 30 September 2015. During this period, Singaporeans have to present their National Registration Identification Card (NRIC) at the bank in person as proof of citizenship. From 1 October 2015 onwards, the SG50 notes will be made available to non-Singaporeans as well.
To ensure that everyone has an opportunity to exchange the SG50 commemorative notes, there will be a quota of five sets of notes (each set comprising a $50 note and five $10 notes) per transaction per individual. The public can choose to exchange any number or combination of notes subject to a maximum of five notes per design.
The public can exchange the SG50 commemorative notes at face value at branches of nine major retail banks from 20 August 2015 onwards:
- DBS Bank/POSB
- Oversea-Chinese Banking Corporation
- United Overseas Bank
- Bank of China
- Citibank
- Industrial and Commercial Bank of China
- Malayan Banking Berhad
- Standard Chartered Bank
- The Hongkong and Shanghai Banking Corporation
