News of fake RM100 notes stemmed from the Malaysian internet community with a photo of two notes with the same serial number are causing concerns among Malaysians and frequent Singaporean visitors.
With the serial number AN2248438, it appears the counterfeit notes are making its round in the market. This news of counterfeit notes is another financial blow to the falling ringgit which is already trading at its historical high of 3.02. Malaysia’s currency has fallen drastically due to falling oil prices, weakening of China’s economy and the series of high profile corruption acts by its Prime Minister Najib Razak. The Malaysian PM has received state funds of over RM2.6 billion into his personal bank account and claimed that it was a donation from Middle-East sources.
Singaporeans frequenting shopping trips across the Causeway are reminded to look out for counterfeit notes especially of those in bigger denominations like RM100 notes.