Crazy long queues at banks nationwide because of SG50 commemorative notes

SG50 notes
Limited edition SG50 commemorative notes are up for grabs starting today, and as expected of our infinite kiasu-ness, Singaporeans are queueing up for hours just to get their hands on it.Long, snaking lines were seen forming early this morning as banks get ready to launch the six special currency notes celebrating the nation’s Golden Jubilee. To be honest, they look pretty nifty, sporting varying designs and even the use of a golden hue for the $50 note.

Despite assurances by the Monetary Authority of Singapore (MAS) that there will be “enough SG50 notes available for exchange” for Singaporeans, people have decidedly refused to stand idly by and rushed to various bank branches across the country to swap their money. And of course, they were willing to wait it out even as the estimated waiting time reached over 5 hours.

sg50_notes
Both UOB and DBS/POSB have announced that they’ll be extending their operating hours as well as set up special queues for those who just want to swap their notes.Again, the MAS cannot stress enough that there is no need to rush for the commemorative notes. “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,” says MAS Deputy Managing Director Dr. Andrew Khoo. Furthermore, each person is only allowed to exchange a maximum of five sets of notes per transaction.

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