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Following the [[Battle of Singapore|fall of Singapore]] into the hands of [[Imperial Japan]] on 15 February 1942, the Japanese introduced new currencies to replace those previously in use in the occupied territories of [[British Malaya|Malaya]], [[North Borneo]], [[Kingdom of Sarawak|Sarawak]] and [[Brunei]]. The new currency in Malaya and Singapore were issued with the same value as the [[Malayan dollar]], and first entered circulation in 1942. As with other currencies issued by Japan in occupied territories, local residents were forced to adopt the new currency, although existing coins were allowed to circulate until a shortage of coins required the Japanese administration to issue notes instead. Although new coins, bearing the name "Malaysia" and dated under the [[Japanese calendar]], were planned for the region by the [[Japan Mint|Osaka Mint]], they never made it past the concept stage and only a few rare patterns exist.
To supply the authorities with money whenever they required it, the Japanese simply printed more notes. This resulted in [[hyperinflation]] and a severe [[depreciation]] in value of the banana note. Moreover, [[counterfeit]]ing was rampant due to the absence of a serial number on many notes. Increasing inflation, coupled with Allied disruption of Japan's economy, forced the Japanese administration to issue banknotes in larger denominations, and increase the amount of money in circulation.<ref name="Msian Banknotes & Coins">{{cite book|last=Boon|first=K.N.
[[File:Old Ford Motor Factory 10, Mar 07.JPG|thumb|200px|Different denominations of the banana money ''(top and left)'' on display at [[Old Ford Motor Factory|Memories at Old Ford Factory]], [[Singapore]]. As banana money was rendered worthless immediately after World War II, banana money notes are now either museum exhibits or collectors' items.]]
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==References==
{{Reflist|30em}}
<!--Storage use|||<ref name="Msian Banknotes & Coins">{{cite book|last=Boon|first=K.N.
==Publications==
*{{Cite book|url= https://books.google.com/books/about/Standard_Catalog_Of_World_Paper_Money_Ge.html?id=BuNA39dnuHsC
{{n-start|title=}}
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