SINGAPORE - Another two million pieces of the Singapore bicentennial $20 commemorative note and folder will be issued to meet strong public interest, the Monetary Authority of Singapore (MAS) said on Friday (June 14).

The additional notes are expected to be available around October to November.

The first two million $20 notes, issued to mark Singapore's bicentennial year, were exchanged at the banks within a week of the launch, MAS said.

The note was launched on June 5 and was first available for exchange at face value at the branches of nine major retail banks on Monday.

Each person was allowed to exchange up to 20 pieces per transaction.

The commemorative note was met with overwhelming demand from the public, with long queues seen at bank branches islandwide.

On Monday, five banks told The Straits Times that at least 40 per cent of their overall stocks had been depleted due to the public demand.

Listings for the $20 note also appeared on online marketplaces at marked-up prices, with some offering them for as much as $1,688 for five pieces.

MAS will inform the public when the new notes are available for exchange.