Thursday, October 4, 2012

Privileged Notes

LAST summer, my daughter and sister came visit here for a month. In case of somebody ask for show money in entry to city state, my sister bought some foreign currencies and bring together with her. After return home, she tried to sell back at a local bank where she bought for extra notes. However, she couldn't sell some of them as banking staff refuse to buy for certain reason. His reason is that foreign currency has a tiny ink and folding somewhat. My sister was shocked to learn the incident because she didn't do anything since she occupy it. When she buy, she didn't bother if they are fake or folder or ink or any form of suspicious things on notes because that is first time she is getting foreign currencies in hand.

When I return home for holiday recently, my sister gave me those notes and tell me story she experienced. I see the note and they are in good condition and acceptable to the market use I think. So I take them and bring back when I return Singapore. Coincidentally, my sister in-law also tasted the same experience. She went lion city to search a job and failed the mission. In return, she also went back banks and sell the notes. She gave me those notes which is not accepted by foreign exchange agents. I bought them from her and bring back to Singapore. Soon after I get back republic, I went nearby foreign exchange shop and able to change back to Singapore Dollar without any difficulties. 

I understand that those foreign currency especially US Dollar are expensive to our people and our local staffs can't afford to make any wrong doing as they will need to compensate if they did any wrong. However, it seem over cautious with regard to foreign money. At the same time, our own local notes are extremely spoiling despite they are being circulated in the market. The authority should replace them with new notes so that our people won't infect each other via dirty currency notes. It would be great if our people love our own currency with the same degree of their treatment towards foreign notes. If we don't value our money then who is going to value them? May our authority able to address this long ignore issue.

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