Those crisp, purple $2 notes are going green again this Chinese New Year.

The Monetary Authority of Singapore (MAS) will be continuing the 'good as new' $2 notes initiative it started in 2013.

This means it will again issue spruced up used notes along with brand new ones for this year's celebrations. The used notes, which are clean and crisp, were retrieved right after the last Chinese New Year.

This green initiative was well-received by the public the first time around, said the MAS in a release. Deputy Managing Director of MAS Andrew Khoo said the take-up rate for these notes was 11 per cent of all the $2 notes issued for the last Chinese New Year.

"The energy saved not printing as many new notes could power 100 households for one month," he said. "We hope demand for 'good as new' $2 notes will be higher this year," he added.

MAS explained last year that it prints and issues 100 million $2 polymer notes to the banks each year - but only half of the freshly-minted ones are required to meet normal circulation demand. Both brand new and "good as new" $2 notes will be available at participating retail banks in Singapore from Jan 13 onwards.

A Facebook page (www.facebook.com/askforgoodasnewnotes) has been set up to raise awareness on this initiative, and posters will be put up at high-traffic locations like bus terminals and community clubs. This initiative is supported by both the Association of Banks in Singapore, and the Environmental Challenge Organisation.