Fit note exchange spikes 40% in 2025 as Singaporeans ditch new bills

MAS reports 16 million notes were exchanged last year, enough to power 280 HDB flats.

Over 16 million pieces of Fit notes were exchanged at banks in 2025, up 40% from the previous year, according to the Monetary Authority of Singapore (MAS).

The authority said in a media release that this resulted in emissions savings equivalent to the annual carbon footprint of powering 280 four-room HDB flats.

Fit notes are used currency notes that are similar in quality to those from ATMs and may have fold lines or minor stains.

A MAS survey revealed that two in three people were open to receiving Fit notes in their hong baos.

The survey was conducted in July 2025 with 1,853 Chinese Singaporean and permanent residents aged 15 and above to understand attitudes, behaviours and values towards Lunar New Year festive gifting.

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