Author Topic: East Caribbean states new notes  (Read 514 times)

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Offline malawi

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East Caribbean states new notes
« on: September 10, 2018, 10:50:56 AM »
New polymer banknotes family

Nice design !!!

https://www.eccb-centralbank.org/

Offline Figleaf

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Re: East Caribbean states new notes
« Reply #1 on: September 14, 2018, 01:07:58 AM »
Where on that site did you see news on banknotes?

Peter
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Offline eurocoin

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Re: East Caribbean states new notes
« Reply #2 on: September 14, 2018, 07:43:32 AM »
This video could earlier be seen on it, now no longer.


Offline Bimat

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East Caribbean states new notes
« Reply #3 on: September 22, 2018, 07:28:21 AM »
ECCB issues new family of banknotes

POSTED ON SEPTEMBER 18, 2018

The Eastern Caribbean Central Bank (ECCB) last week announced that a new family of banknotes with new designs and security features will be issued from next year with the two largest denominations: The $50 (US $18.50) and $100 (US $37.00) notes beginning the changeover.

The greatest change to the ECCB currency notes will be that they will be printed on polymer, transitioning from a cotton paper fibre. The decision to change to a polymer substrate is to increase the durability of the banknotes in circulation throughout the Eastern Caribbean, which have previously been printed on traditional cotton substrate. With a longer note life, as a frequently used denomination printed on polymer will often remain intact for an average of four years, the bank hopes to experience long-term cost savings on banknote production.

It is the first time the ECCB has issued a new banknote series since 1993, though the previous series has had several upgrades since its launch. Another significant change to ECCB banknotes will be that the new banknotes will be designed using a vertical format rather than horizontally, as was done in previous designs. The colour scheme of each of the five denominations, which range from $5 to $100, will continue to be the same as before to aid public recognition and acceptance of the new banknote family.

All of the current denominations will make the change-over, and with the use of polymer, new security features will be included in the new designs. The highest three denominations of the $20, $50, and $100 notes will have a holographic see-through window integrated into the overall design. As an added security feature, the holographic window appears black due to specialised technology incorporated into the clear window if the notes are scanned. The $5 and $10 denominations will have a similar holographic window integrated into their design, but on a smaller scale. The banknotes will continue to have the same dimensions, which are all uniform in size regardless of denomination. The face will also continue to include a portrait of HM Queen Elizabeth II.

The back of the new $50 note will include an image of the late Honourable Sir K. Dwight Venner (1946–2016), governor of the Eastern Caribbean Central Bank from December 1989 to November 2015. The back of the $100 banknote will include an image of Sir Arthur Lewis (1915–1991), the Saint Lucian economist well known for his contributions to the field of economic development.

Source: SearchLight
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Offline Bimat

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East Caribbean states new notes
« Reply #4 on: January 19, 2019, 07:36:14 AM »
ECCB begins the process of rolling out banknotes made from polymer

POSTED ON JANUARY 18, 2019

NEW MONEY IS coming to town in May/June of this year as the Eastern Caribbean Central Bank(ECCB) begins the process of rolling out a new family of banknotes made from polymer.

During an informational session at the ECCB agency office last Friday, Rosbert Humphrey, the Acting Director of the Currency Management Department at the ECCB said the bank will co-circulate the polymer (a thin, transparent and flexible plastic film made from polypropylene) notes with the paper banknotes, and to begin with the 50 and 100 dollar bills in May/ June of this year.

“In August/September we will be issuing the 20s, and the 10s, and in 2020 around June, we will be issuing the 5s,” Humphrey said.

“The reason for the time difference is based on the existing stuff that we have in our vault we are not withdrawing paper and putting polymer into circulation. As soon as a denomination is depleted we will put polymer in circulation, and both of them will co-circulate,” he stated.

The motivation for the bank in issuing these notes has been for “durability, security and cleanliness” of the bills.

The plastic will be more resistant to moisture and dirt, and less likely to tear. However, the bank issues a caution that the notes should not be ironed or exposed to high temperatures for long periods of times.

The ECCB asks that persons do not crease or fold the banknotes, as they may be used to doing with the paper notes.

“These creases would become permanent in polymer, and deem the note unfit for circulation. If you happen to do that by mistake or error, you know, you just bend it the other way and it unfolds,” Humphrey disclosed. Stapling notes will also make them susceptible to tearing, and should be avoided.

And Humphrey said the polymer notes will have features designed to make them even more difficult to counterfeit.

These features include a holographic strip which is printed on the 20, 50 and 100 dollar bills and will turn grey or black if anyone tries to counterfeit them. Additionally, there are tactile features with raised bumps of a different shape on each note which serves a dual purpose as it will tell the blind or visually impaired persons which note they are holding, a magnetic gravure thread, and micro text etc.

Changes to the notes are that they will be oriented portrait from top to bottom, as opposed to landscape as they are now. The Acting Director informed that the images and landmarks will remain the same on the polymer notes, save for their being modernized or ‘improved.’ The image for St Vincent and the Grenadines, the Admiralty Bay, is placed on the $10, and it will appear “slightly different.”

“On the $50 bill we have the Brimstone Hill in St Kitts …. We removed the Pitons St Lucia (from the $50 bill) and put them on the 100s, and included an image of Sir K Dwight Venner, the former Governor, on the 50s.”

Humphrey said old bills will be disposed of in an eco-friendly manner by exporting them to recyclable plants where items such as plastic chairs, vases and pencils can be made

NEW MONEY IS coming to town in May/June of this year as the Eastern Caribbean Central Bank(ECCB) begins the process of rolling out a new family of banknotes made from polymer.

During an informational session at the ECCB agency office last Friday, Rosbert Humphrey, the Acting Director of the Currency Management Department at the ECCB said the bank will co-circulate the polymer (a thin, transparent and flexible plastic film made from polypropylene) notes with the paper banknotes, and to begin with the 50 and 100 dollar bills in May/ June of this year.

“In August/September we will be issuing the 20s, and the 10s, and in 2020 around June, we will be issuing the 5s,” Humphrey said.

“The reason for the time difference is based on the existing stuff that we have in our vault we are not withdrawing paper and putting polymer into circulation. As soon as a denomination is depleted we will put polymer in circulation, and both of them will co-circulate,” he stated.

The motivation for the bank in issuing these notes has been for “durability, security and cleanliness” of the bills.

The plastic will be more resistant to moisture and dirt, and less likely to tear. However, the bank issues a caution that the notes should not be ironed or exposed to high temperatures for long periods of times.

The ECCB asks that persons do not crease or fold the banknotes, as they may be used to doing with the paper notes.

“These creases would become permanent in polymer, and deem the note unfit for circulation. If you happen to do that by mistake or error, you know, you just bend it the other way and it unfolds,” Humphrey disclosed. Stapling notes will also make them susceptible to tearing, and should be avoided.

And Humphrey said the polymer notes will have features designed to make them even more difficult to counterfeit.

These features include a holographic strip which is printed on the 20, 50 and 100 dollar bills and will turn grey or black if anyone tries to counterfeit them. Additionally, there are tactile features with raised bumps of a different shape on each note which serves a dual purpose as it will tell the blind or visually impaired persons which note they are holding, a magnetic gravure thread, and micro text etc.

Changes to the notes are that they will be oriented portrait from top to bottom, as opposed to landscape as they are now. The Acting Director informed that the images and landmarks will remain the same on the polymer notes, save for their being modernized or ‘improved.’ The image for St Vincent and the Grenadines, the Admiralty Bay, is placed on the $10, and it will appear “slightly different.”

“On the $50 bill we have the Brimstone Hill in St Kitts …. We removed the Pitons St Lucia (from the $50 bill) and put them on the 100s, and included an image of Sir K Dwight Venner, the former Governor, on the 50s.”

Humphrey said old bills will be disposed of in an eco-friendly manner by exporting them to recyclable plants where items such as plastic chairs, vases and pencils can be made.

Source
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Offline Pabitra

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Re: East Caribbean states new notes
« Reply #5 on: April 10, 2019, 04:45:21 PM »

Offline Bimat

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East Caribbean states new notes
« Reply #6 on: May 31, 2019, 08:53:04 AM »
Central Bank launches $50 polymer banknotes

Article Published: May 30, 2019

The Eastern Caribbean Central Bank (ECCB) launched its new $50 polymer banknotes yesterday during a video teleconference.

The event was chaired by Governor of the ECCB, Timothy N.J. Antoine, and the Chairman of the ECCB Monetary Council, Grenadian Prime Minister Dr. Keith Mitchell.

Governor Antoine addressed OECS reporters and members of the financial sector, stating that these new bank notes will be cleaner, safer and stronger.

“Compared to paper notes, polymer notes are cleaner [they are resistant to dirt and moisture], more secure [they have advanced security features which make them harder to counterfeit], more durable as they last at least, three times longer than paper notes and more environmentally friendly,” he said.

According to the Governor for the Central Bank, the notes will also have a new design feature, allowing for people with visual impairment to easily recognise them.

“The switch to polymer necessitated some changes to the designs of the notes in respect of technical and security specifications. However, even with these new design elements, we were careful to maintain a degree of familiarity for ease of use.

“Very importantly, we have incorporated a feature [raised bumps] to make it easy for the blind and visually impaired to handle their money and their business,” he said.

Some of the new design features also include the signature of the current Governor and an image of the former ECCB Governor, Sir K. Dwight Venner who served from December 1989 until November 2015.  Sir K. Dwight died in December 2016.

Another feature is the new portrait orientation design, which is a departure from the current landscape orientation of the paper banknotes.

Additionally, a holographic foil strip has been introduced as an anti-counterfeiting feature on the $20, $50 and $100, which are most susceptible to counterfeiting.

Antoine added that the new $50 banknotes will be in circulation from next month and will run concurrently with the existing paper notes during the transition phase.

“The circulation of the new notes will be phased. As unfit paper notes are returned to the Central Bank and our current inventory of paper notes is depleted, they will be replaced by polymer notes.

“Therefore, as a practical matter, the public ought to expect that both paper and polymer notes will be in circulation at the same time. They are both legal tender,“ he said.

The $10, $20 and $100 polymer banknotes are to be launched in September 2019 while the five-dollar banknotes will be launched in September 2020.

Source: Antigua Observer
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Offline Bimat

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East Caribbean states new notes
« Reply #7 on: June 02, 2019, 08:21:00 AM »
ECCB Governor: No plans to replace Queen Elizabeth II on EC banknotes

JUNE 1ST, 2019
JOSHUA ST. AIMEE

As previously reported in the STAR, the EC dollar is set to undergo a major facelift. Starting this month, the Eastern Caribbean Central Bank will begin rolling out new $50 polymer banknotes, to be followed by the $10, $20 and $100 bills in August and September, and the $5 note next year. The new notes are touted to be more durable, difficult to counterfeit and will include a tactile feature to make it easy for the blind and visually impaired to use them. The $50 note will now feature a portrait of former ECCB governor Sir Dwight Venner on the back.

Speaking at the regional launch on Wednesday, ECCB governor Timothy Antoine asked: “Why are we moving from paper to polymer?” Simply put, he said, “It is to enhance security and usability of our EC notes”.

To arrive at the decision of switching from paper to polymer notes, governor Antoine said the ECCB considered four options. Sticking with the cotton notes; switching to a cotton-polymer combination; using an endurance high quality paper; or using polymer. He says that although the polymer notes are more expensive to produce up-front, they are more cost-effective. He explained that because the notes have an extended life span, they will be replaced less often. Additionally, there will be a reduction in transportation and handling costs, reducing the overall cost of cash for the ECCB, commercial banks, and credit unions.

“Today is indeed a happy occasion for our currency union,” said Antoine. “Fellow citizens and residents of the Eastern Caribbean Currency Union, your new notes are considerably better, hence the tagline for our public education campaign: Cleaner, Safer, Stronger. Moreover, they look good! They are aesthetically pleasing. Above all, they are a symbol of regional accomplishment. And when we touch them and use them everyday, we must never forget that.”

As for the future of the Queen’s image on the notes, Antoine said: “There are no plans to have Her Majesty replaced on our banknotes. Until such time as we decide otherwise, that is part of our notes. As a legal matter, if we have to change the image of Her Majesty, we have to seek her permission. And obviously that’s a process and that takes time.”

He went on: “Perhaps equally important at this stage is that within our currency union we do have two members that are British Overseas Territories: Anguilla and Montserrat. So the notion of removing Her Majesty really is a very involved conversation that will be required across the currency union and, to be quite honest, we did not feel at this particular time we wanted to invest energy in that regard. There are far more important things in our strategic plan.”

Governor Antoine highlighted that Queen Elizabeth II is the head of state in most of the countries in our currency union (with the exception of the Commonwealth of Dominica). She’s also the head of state of Barbados and Jamaica, yet not depicted on any of their banknotes.

Source: St. Lucia Star
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.