New Banknotes Introduced in Eastern Caribbean Islands

Posted On Sunday, July 14, 2019

Last month, the East Caribbean Central Bank (ECCB) introduced polymer banknotes into circulation, commencing with the new $50, which is to be followed by the $100, $20 and $10 in August/September and the $5 in 2020. 

Polymer banknotes are produced from a thin, transparent and flexible plastic film made from polypropylene. Since June 2019, both types of banknotes have been in circulation simultaneously - which will continue for some time to come - so in conducting business or personal cash transactions you may receive a mixture of polymer and paper

The new notes are designed in "portait" format, which means the images are printed vertically instead of horizontally - cool and unusual, but also reflecting how money transactions are actually conducted. Bermuda, Switzerland, and Venezuela have permanently adopted vertically oriented currency, while Sri Lanka prints the reverse of its banknotes vertically. The Northern Irish £5 and £10 notes issued by Ulster Bank for 2019 will also be presented in this way.

The Eastern Caribbean Central Bank decided to change to polymer EC banknotes (official currency abbreviation XCD) because they are resistant to dirt and moisture therefore stay cleaner than paper. Polymer banknotes can incorporate advanced security features making them more difficult to counterfeit, and last at least two and a half times longer than paper notes, which is more environmentally friendly. 

Other key features include:

Upgraded Images and Landmarks The images and landmarks at the back of the banknotes remain the same but have been enhanced.

Unique Tactile Feature Each note will bear a unique tactile feature (raised bumps) specifically designed to assist the blind and visually impaired individuals with identifying the denomination of each note. These raised bumps form familiar shapes.

Holographic Foil Strip This anti-counterfeiting feature is on the $20, $50 and $100, which are most susceptible to counterfeiting.

New Image The $50 now depicts an image of the former Governor of the ECCB, the late Honourable Sir K Dwight Venner in honour of his legacy and service to the Bank.

New Signature The banknotes bear the signature of Governor Timothy N. J. Antoine.

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