Economics corner

Singapore and Brunei launch new $20 notes

extracted from Channel News Asia 27 June 2007

A new $20 polymer note has been launched to celebrate the 40th anniversary of the Currency Interchangeability Agreement between Singapore and Brunei. The commemorative notes were launched by Singapore Prime Minister Lee Hsien Loong and the Brunei Sultan Hassanal Bolkiah at a ceremony in Bandar Seri Begawan on Wednesday. Three million of the Singapore $20 commemorative notes will be introduced into circulation gradually through the banks, starting 16 July.

I hope that this article will interest you. You can find out more from the Singapore Mint website at http://www.singaporemint.com/. Please revise on the following this week as we look into the topic on money:

What is money? What are the functions of money? Why is it used as a medium of exchange? What are the forms (types) of money? Why is money introduced as a medium of exchange over barter trade( cons of barter trade)? What are the differences between the Central Bank and the commercial banks?

Write on the following topics:

1. Are Credit Cards A Form Of Money?

you can refer to this link for a comment on the above topic: http://economics.about.com/cs/money/a/credit_cards.htm

2. What are the differences in the functions of the Central Bank and the commercial Banks in Singapore?

you can refer to this link to learn more about the functions of the Central Bank in Singapore: http://www.mas.gov.sg/resource/eco_research/eco_education/explorer/explorer1.pdf

about commercial banks in Singapore:

http://www.abs.org.sg/members.htm

Try out the quiz on money here: http://www.bized.co.uk/virtual/bank/economics/money/quiz.htm