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Eastern-Caribbean-Central-Bank-to-Issue-New-Polymer-Banknotes

Eastern Caribbean Central Bank to Issue New Polymer Banknotes

14 Sep 2018  Fri

The Eastern Caribbean Central Bank will be releasing a new family of banknotes with new designs and security features in 2019, starting with their $50 and $100 notes. Unlike their existing banknotes that are made of cotton paper fibre, for the first time, ECCB would be releasing polymer notes to increase durability. Since polymer notes have a life of four years, the bank hopes to reduce costs on banknote production in the long run.

Apart from that, the new notes will have a vertical design, unlike the existing notes which have a horizontal design. The ECCB would be releasing a new series of banknotes after a gap of 25 years. The colours of the new banknotes would be similar to the existing notes so that people can easily accept and identify them.

The new $20, $50, and $100 notes will have a holographic see-through window that looks to be black in colour due to its highly advanced clear window if the notes are scanned. The $5 and $10 will also have these holographic windows but smaller in size. The dimensions would remain the same and all denominations will be of the same size. Like earlier designs, the obverse will feature a portrait of HM Queen Elizabeth II.

The reverse of the new $50 note will depict an image of late Honourable Sir K. Dwight Venner, governor of the ECCB from December 1989 to November 2015. The reverse of the $100 banknote will feature a portrait of Sir Arthur Lewis, the famous economist from Saint Lucia.

Image Courtesy: ECCB