Singapore has officially hit peak capitalism as even money can now be bought and sold — at a hyper inflated price.
Singapore’s Bicentennial $20 notes are being resold for up to S$988 on Carousell and eBay.
Banks here have run out of stock just a day after the commemorative notes launched.
Close to 400 listings for the Bicentennial note can be found on Carousell.
eBay had about 35 listings.
Most listings were asking for S$25 to S$30 for the S$20 note.
Notes with auspicious serial numbers were going for a few hundred dollars.
A note with the serial number AE159888 is being sold for S$988.
For commemorative purposes
The $20 notes were issued by the Monetary Authority of Singapore (MAS).
They were launched to commemorate Singapore’s Bicentennial.
Two million pieces of the commemorative notes were made available at the branches of nine major banks on Monday, June 10.
This means S$40 million of fresh currency was printed and circulated.
Each person was allowed to exchange up to 20 pieces of the S$20 notes.
Queues for the notes started at 8am for some bank outlets.
By noon some banks ran out of the notes.
By Tuesday, banks had run out of the allocated supply.
There is no law against reselling Singapore notes.