Polymer banknote

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Banknotes of the Australian dollar in a wallet. In 1988, Australia was the first country to introduce polymer banknotes for circulation. Australian banknotes in wallet.jpg
Banknotes of the Australian dollar in a wallet. In 1988, Australia was the first country to introduce polymer banknotes for circulation.

Polymer banknotes are banknotes made from a synthetic polymer such as biaxially oriented polypropylene (BOPP). Such notes incorporate many security features not available in paper banknotes, including the use of metameric inks. [1] Polymer banknotes last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement. [2] Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne. They were first issued as currency in Australia during 1988 (coinciding with Australia's bicentennial year); by 1996, the Australian dollar was switched completely to polymer banknotes. Romania was the first country in Europe to issue a plastic note in 1999 and became the third country after Australia and New Zealand to fully convert to polymer by 2003.

Contents

Other currencies that have been switched completely to polymer banknotes include: the Vietnamese đồng (2006) although this is only applied to banknotes with denominations above 5,000 đồng, the Brunei dollar (2006), the Nigerian Naira (2007), the Papua New Guinean kina (2008), the Canadian dollar (2013), the Maldivian rufiyaa (2017), the Mauritanian ouguiya (2017), the Nicaraguan córdoba (2017), the Vanuatu vatu (2017), the Eastern Caribbean dollar (2019), the pound sterling (2021) and the Barbadian dollar (2022). Several countries and regions have now introduced polymer banknotes into commemorative or general circulation, including: Nigeria, Cape Verde, Chile, The Gambia, Trinidad and Tobago, Vietnam, Mexico, Singapore, Malaysia, Botswana, São Tomé and Príncipe, North Macedonia, Russia, Solomon Islands, Samoa, Morocco, Albania, Sri Lanka, Hong Kong, Israel, China, Taiwan, Kuwait, Mozambique, Saudi Arabia, Isle of Man, Guatemala, Haiti, Jamaica, Libya, Mauritius, Costa Rica, Honduras, Angola, Namibia, Lebanon, the Philippines, and Egypt.

History

In the 1980s, Canadian engineering company AGRA Vadeko and US chemical company US Mobil Chemical Company developed a polymer substrate trademarked as DuraNote. It had been tested by the Bank of Canada in the 1980s and 1990s; test C$ 20 and C$ 50 banknotes were auctioned in October 2012. [3] [4] It was also tested by the Bureau of Engraving and Printing of the United States Department of the Treasury in 1997 and 1998, when 40,000 test banknotes were printed and evaluated; and was evaluated by the central banks of 28 countries. [3]

Security features

Polymer banknotes usually have three levels of security devices. Primary security devices are easily recognisable by consumers and may include intaglio, metal strips, and the clear areas of the banknote. Secondary security devices are detectable by a machine. Tertiary security devices may only be detectable by the issuing authority when a banknote is returned. [5]

Adoption

Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA) and the Commonwealth Scientific and Industrial Research Organisation or CSIRO and first issued as currency in Australia during 1988, to coincide with Australia's bicentennial year. [6]

In August 2012, Nigeria's Central Bank attempted the switch back from polymer to paper banknotes, [7] saying there were "significant difficulties associated with the processing and destruction of the polymer banknotes" which had "constrained the realisation of the benefits expected from polymer banknotes over paper notes". [8] However, President Goodluck Jonathan halted the process in September 2012. [9]

The polymer notes in the Republic of Mauritius are available in values of  25,  50,  500 and  2,000. The Fiji FJ$ 5 was issued [10] in April 2013.

In the United Kingdom, the first polymer banknotes were issued by the Northern Bank in Northern Ireland in 2000; these were a special commemorative issue bearing an image of the Space Shuttle. [Note 1] In March 2015, the Clydesdale Bank in Scotland began to issue polymer Sterling £5 notes marking the 125th anniversary of the building of the Forth Bridge. [11] These were the first polymer notes to enter general circulation in the UK. [12] The Royal Bank of Scotland followed in 2016 with a new issue of plastic £5 notes illustrated with a picture of author Nan Shepherd. [13] In September 2016, the Bank of England began to issue £5 polymer notes with a picture of Winston Churchill; and in 2017 a polymer £10 began replacing its paper equivalent, featuring a picture of the author Jane Austen. A polymer £20 was issued in 2020 with a picture of J.M.W. Turner, and the £50 note was released in 2021, featuring Alan Turing. Although the polymer Bank of England notes are 15% smaller than the older, paper issue, they bear a similar design. [14] [15] Some businesses operating in the UK cash industry have opposed the switch to polymer, citing a lack of research into the cost impact of its introduction. [16] In December 2022, following the death of Queen Elizabeth II, the Bank of England unveiled the design of a new series of banknotes featuring King Charles III. The rest of the design, however, is unchanged, with the exception of a slight alteration in colour. [17]

In the Philippines, it was proposed in 2009 to shift to the usage of polymer for Philippine peso banknotes. This did not push through due to concern the shift would have over the impact to country's abaca industry. The proposal was revived in 2021 during the COVID-19 pandemic since the polymer banknotes can be sanitized with less damage compared to paper banknotes, as well as other reasons such as durability, lesser average issue cost, and lesser susceptibility to counterfeiting. In April 2022, The Bangko Sentral ng Pilipinas officially released the 1000 peso bill polymer bank note into circulation. [18]

Timeline of adoptions and withdrawals of polymer banknotes
CountryDate of first introductionNotes
N/Aearly 1980sAn alternative polymer of polyethylene fibres marketed as Tyvek by DuPont was developed for use as currency by the American Bank Note Company in the early 1980s.
Flag of Haiti (1964-1986).svg  Haiti 1982 Haiti released Tyvek-made Gourde banknotes in denominations of 1, 2, 50, 100, 250 & 500. The same denominations and a 5 Gourdes banknote were also released on paper. [19]
Flag of Costa Rica.svg  Costa Rica 1983 Costa Rica issued a 20 Colones Tyvek banknote.
Flag of the Isle of Man.svg  Isle of Man 1983The Isle of Man issued a 1 Pound banknote, this time called Bradvek and printed by Bradbury Wilkinson.
N/ALate 1980sTyvek did not perform well in trials; smudging of ink and fragility were reported as problems, so production of Tyvek banknotes was discontinued. [20]
Flag of Australia (converted).svg  Australia 1988[ citation needed ] Australia introduced the ten-dollar note to celebrate its bicentennial. This was the world's first true polymer banknote. [21]
Flag of Singapore.svg  Singapore 1990 Singapore issued a S$ 50 in polymer substrate to commemorate the 25th Anniversary of Independence.
Flag of Papua New Guinea.svg  Papua New Guinea 1991 Papua New Guinea issued its first 2 Kinas banknote in polymer substrate to commemorate the 9th South Pacific Games held in the country. [22]
Flag of Indonesia.svg  Indonesia 1993 Indonesia issued a Rp  50,000 commemorative banknote in conjunction with the 25 Years of Development by President Soeharto which is the first polymer banknote issued by Bank Indonesia.But polymer banknotes are never issued again in the later series. [23]
Flag of Brunei.svg  Brunei 1996 Brunei introduced its first polymer banknotes in denominations of 1, 5, 10 dollars. [24]
Flag of Sri Lanka.svg  Sri Lanka 4 February 1998 Sri Lanka issued a රු. 200 commemorative banknote in conjunction with the 50th Anniversary of Independence which is so far the only polymer banknote issued by the Central Bank of Sri Lanka. [25]
Flag of Australia (converted).svg  Australia 1996 Australia had converted all of its denominations into polymer banknotes and became the first country in the world to do so. [26]
Flag of Thailand.svg  Thailand 18 August 1997 Thailand issued its first polymer banknote, a 50 Baht denomination. On 1 October 2004 it was replaced by a redesigned version printed on paper. [27]
Flag of Malaysia.svg  Malaysia 1998 Malaysia issued a RM 50 commemorative banknote in conjunction with the XVI Commonwealth Games, the first polymer banknote ever issued by Bank Negara Malaysia. [28]
Flag of New Zealand.svg  New Zealand May 1999 New Zealand converted all of its banknotes into polymer banknotes. [29]
Flag of the Republic of China.svg  Taiwan June 1999 Taiwan issued its first polymer banknote (NT$50) to commemorate 50 years of the New Taiwan dollar's issuance. [30]
Flag of Romania.svg  Romania August 1999In celebration of the total solar eclipse of August 11, 1999, the National Bank of Romania (BNR) decided to issue a commemorative two thousand Romanian lei banknote. Since it was the last eclipse of the millennium, the denomination was chosen to be 2000 in respect to the upcoming year. These notes were issued as legal tender. [31]
Flag of Indonesia.svg  Indonesia 1 November 1999 Bank Indonesia introduced a Rp  100,000 polymer banknote in circulation, the first banknote of such value to be issued. [32]
Flag of Brazil.svg  Brazil April 2000 Brazil introduced a R$10 polymer banknote as a special edition issue commemorating the country's 500th anniversary. [33]
Flag of Bangladesh.svg  Bangladesh January 2001 Bangladesh introduced the 10 taka polymer banknote, originally they were due to be issued on Victory Day, a day big for Bangladeshis, but were delayed. [34]
Flag of Nepal.svg  Kingdom of Nepal February 2002The Kingdom of Nepal introduced a commemorative 10 rupees polymer banknote, on the occasion of King Gyanendra's accession to the Nepalese throne after the Nepalese royal massacre. It was rendered obsolete when the Kingdom fell and was replaced by 2008. [35]
Flag of Mexico.svg  Mexico September 2002 Mexico switched the 20 peso denomination from paper to polymer banknotes. [36] and they issued a 100 peso with vertical design polymer banknote in 2020. [37]
Flag of Romania.svg  Romania 2003 Romania converted all of its denominations of the leu to polymer, [38] becoming the first European country to do so.
Flag of Vietnam.svg  Vietnam December 2003 Vietnam adopted polymer banknote in denominations of 10,000, 20,000, 50,000, 100,000, 200,000 and 500,000 đồng for general circulation. [39]
Flag of Malaysia.svg  Malaysia October 2004 Bank Negara Malaysia introduces a 5 ringgit polymer banknote into circulation, with the same design as the paper version. This was the first non-commemorative polymer banknote to be issued. Both polymer and paper versions were in circulation concurrently. [40]
Flag of Indonesia.svg  Indonesia November 2004 Bank Indonesia switched its Rp100,000 polymer banknote into a paper banknote with a different design than the polymer version. [41]
Flag of Romania.svg  Romania July 2005 Romania redenominated the leu, removing four zeroes and issuing a series of new denominations in polymer. [42]
Flag of Mexico.svg  Mexico 2006Two more new polymer notes issued in 2006, for 20-pesos (new design) and the 50-pesos [36] and they issued a 100 peso with vertical design polymer banknote in 2020. [37]
Flag of Brunei.svg  Brunei 2006 Brunei had adopted polymer banknotes for all of its banknote denominations.
Flag of Australia (converted).svg  Australia 2006The Australian Government agency CSIRO issued a non-legal tender polymer note to celebrate the 80th year of the formation of CSIRO. These notes were issued and distributed to staff members and at selected public events. [43]
Flag of Vietnam.svg  Vietnam August 2006 Vietnam adopted polymer banknote in 10,000, 20,000, 50,000, 100,000, 200,000 and 500,000 đồng for general circulation. [39]
Flag of Romania.svg  Romania 1 December 2006The National Bank of Romania issued a new denomination, 200 lei. [44]
Flag of Hong Kong.svg  Hong Kong 2007The Government of the Hong Kong Special Administrative Region issued polymer banknotes for the first time. The banknotes are in HK$ 10. [45]
Flag of Nigeria.svg  Nigeria February 2007As part of the Nigerian economic reforms, the 20 naira note was issued for the first time in polymer substrate. [46]
Flag of Guatemala.svg  Guatemala August 2007 Guatemala introduced polymer banknotes in denominations of 1 quetzal and 5 quetzales. [47]
Flag of Nicaragua.svg  Nicaragua 2008An announcement from the Central Bank of Nicaragua in 2008 stated that a new 200 Córdoba banknote would be in circulation. [48] [49]
Flag of Israel.svg  Israel 13 April 2008 Israel started to issue 20 ILS banknotes, due to the high deterioration of 20 ILS paper banknotes. The Israeli polymer notes are printed by Orell Füssli Security Printing of Zürich, Switzerland. [50]
Flag of Romania.svg  Romania 1 December 2008The National Bank of Romania issued a revised 10 lei banknote.
Flag of Nicaragua.svg  Nicaragua 2009On 15 May, Nicaragua released new polymer ten and twenty Nicaragua córdoba banknotes to replace their paper counterparts. [51] After an announcement from the Central Bank of Nicaragua in 2008 stated that a new 200 Córdoba banknote would be in circulation, it took the country an additional year to prepare its new set of banknotes. A new polymer two hundred and a hundred córdoba banknote was first issued on the first of June 2009. In December 2009, a new 50 banknote was released, later followed by a new 500 banknote that was issued on 12 January 2010. [48] [49]
Flag of India.svg  India September 2009The Reserve Bank of India announced that it will introduce 1 billion 10-rupee notes. [52]
Flag of Chile.svg  Chile September 2009The Central Bank of Chile introduced a new series of the Chilean peso, starting with the redesigned 5000 Pesos banknote. [53]
Flag of Nigeria.svg  Nigeria 30 September 2009Three Nigerian bank notes (₦50, ₦10 and ₦5) were converted to polymer substrate following the successful performance of the 20 naira (polymer) banknote. [46]
Flag of Nicaragua.svg  Nicaragua 12 January 2010 Nicaragua released a new 500 banknote. [48] [49]
Flag of the Dominican Republic.svg  Dominican Republic June 2010The Central Bank of the Dominican Republic announced the introduction of a new polymer based 20 pesos note. [54]
Flag of Chile.svg  Chile October 2010The Central Bank of Chile announced the redesigned 2000 Pesos that went into circulation on 20 November, as a program to change the old designs and make them more secure. [55]
Flag of Canada (Pantone).svg  Canada November 2011The Bank of Canada introduced the Frontier Series $100 polymer banknote to modernise its currency and reduce counterfeiting. [56] $50 banknotes were put into circulation in March 2012; the $20 note was put into circulation on 7 November 2012 [57] with the $10 and $5 denominations released on 7 November 2013. [58] [59]
Flag of Guatemala.svg  Guatemala November 2011 Guatemala introduced new polymer banknote in denomination of 5 quetzales. [60]
Flag of Malaysia.svg  Malaysia 16 July 2012 Bank Negara Malaysia put new RM1 and RM5 polymer banknotes into circulation as part of a new banknote series. [61]
Flag of England.svg  England 2013The Bank of England announced that it would adopt polymer notes. [62]
Flag of India.svg  India April 2013The Reserve Bank of India introduced plastic/polymer currency note of 10 on a field trial basis in five cities in India. [63]
Flag of Mauritius.svg  Mauritius 22 August 2013The Bank of Mauritius issued new 25-, 50-, and 500-rupee polymer banknotes which will circulate in parallel with the existing paper notes of the same denominations. The new polymer notes have almost the same design as the preceding paper banknotes, but contain numerous new security features such as transparent windows showing the image of the dodo, numbers printed with magnetic ink which become fluorescent under ultra violet light, and swing features printed in iridescent ink, which change to a different colour when observed in transparency or when tilted. The 25-, and 50-rupee notes are printed by Oberthur Technologies on Innovia Security's Guardian substrate and the 500-rupee note is printed by De La Rue on its Safeguard (formerly Flexycoin) substrate. [64]
Flag of Lebanon.svg  Lebanon 22 November 2013The Banque du Liban issued a £L50,000 banknote in polymer to commemorate the country's 70th anniversary of independence. [65]
Flag of Lebanon.svg  Lebanon 2014The Banque du Liban issued a £L50,000 banknote in polymer to commemorate the 50th anniversary of the founding of the Banque du Liban. [66]
Flag of Vanuatu.svg  Vanuatu 2014The Reserve Bank of Vanuatu introduced polymer banknotes in denominations of 200, 1,000, and 2,000 vatu. Regular 10,000-vatu banknotes were also introduced that year to replace the commemorative versions, which were originally issued in 2010. [67]
Flag of Poland.svg  Poland 5 August 2014The National Bank of Poland issued 50,000 20zł. polymer banknotes to commemorate the 100th anniversary of the formation of the Polish Legions. [68]
Flag of The Gambia.svg  Gambia 20 July 2014The Central Bank of the Gambia issued a 20 Dalasis banknote printed on De La Rue's Safeguard polymer substrate. It commemorates "20 Years of Progress and Self-Reliance", coinciding with President Yahya Jammeh's 20 years in office as president. [69] [70]
Flag of Mauritania (1959-2017).svg  Mauritania 28 November 2014The Central Bank of Mauritania issued a 1,000 Ouguiya banknote on Innovia Security's Guardian substrate. [71]
Flag of Trinidad and Tobago.svg  Trinidad & Tobago 15 December 2014The Central Bank of Trinidad & Tobago issued a TT$50 note printed on polymer to commemorate the 50th anniversary of the establishment of the Central Bank of Trinidad & Tobago. [72]
Flag of Cape Verde.svg  Cape Verde 23 December 2014The Banco de Cabo Verde issued a new family of escudo banknotes that honour Cape Verdean figures in the fields of literature, music, and politics. One note in the new series is the 200 escudos banknote, now printed on polymer. [73]
Flag of New Zealand.svg  New Zealand 2015The Reserve Bank of New Zealand introduced a new family of notes with improved security features, with the 5 and 10 in October 2015, and the 20, 50 and 100 dollar banknotes in April 2016. [74] [75]
Flag of Scotland.svg  Scotland 2015 Clydesdale Bank issued two million £5 notes, printed in polymer. It features a portrait of Sir William Arrol and an image of the Forth Bridge. [76]
Flag of India.svg  India 2015The Reserve Bank of India announced plans to introduce polymer banknotes on a pilot basis and improve security features to defeat the efforts of counterfeiters. [77]
Flag of Lebanon.svg  Lebanon 2015The Banque du Liban issued a £L50,000 banknote in polymer to commemorate the 70th Anniversary of the Lebanese Army. [78]
Flag of Papua New Guinea.svg  Papua New Guinea 2015The Bank of Papua New Guinea issued 10 and 20 kina notes in polymer, one to commemorate the XV Pacific Games and the other to commemorate the 40th Anniversary of Papua New Guinean independence. [79] [80]
Flag of Maldives.svg  Maldives 2015The Maldives Authority Monetary introduced a new family of banknotes printed on De La Rue's "Safeguard" polymer substrate. A commemorative 5,000 Rufiyaa banknote was issued in July 2015, and followed by the 5-,10-, 20-, 50-, 100-, 500 and a new denomination of 1,000 Rufiyaa in October 2015. [81] [82] [83]
Flag of Singapore.svg  Singapore 2015The Monetary Authority of Singapore issued a set of polymer banknotes to commemorate the nation's 50th Anniversary of independence. It consists of five S$10 notes and a commemorative S$50 note. [84]
Flag of Nicaragua.svg  Nicaragua 2015The Banco Central de Nicaragua issued a new family of notes on 26 October 2015. They are printed in polymer, except for the 500 cordobas banknote, which is printed on cotton paper substrate. [85] [86]
Flag of Canada (Pantone).svg  Canada 9 September 2015The Bank of Canada (Banque du Canada) issued a C$ 20 polymer banknote to commemorate Queen Elizabeth II's milestone as the longest-reigning monarch in Canada's modern era. It is similar to the regular issue 20-dollar Frontier Series polymer note, but the notable features for the commemorative note are the metallic portrait of the queen, based on a photograph taken by renowned Canadian photographer Yousuf Karsh, the metallic symbol including the Queen's monogram surmounted by the St. Edward's crown, surrounded by a garland of maple leaves and the text "A HISTORIC REIGN • UN RÈGNE HISTORIQUE" repeated at the top, center and bottom of the large window. [87]
Flag of Gibraltar.svg  Gibraltar 2016The Government of Gibraltar issued a £100 polymer banknote to commemorate Sir Joshua Hassan's 22 years as Chief Minister in the first half of 2016. [88]
Flag of Scotland.svg  Scotland 2016The Royal Bank of Scotland issued £5 and £10 banknotes in 2016 and 2017, respectively. The notes were printed on De La Rue's Safeguard polymer substrate. [89]
Flag of Australia (converted).svg  Australia 1 September 2016The Reserve Bank of Australia issued a A$ 5 polymer note with improved security features and a tactile feature to assist those with visual impairments. [90]
Flag of England.svg  England 13 September 2016The Bank of England began issuing the new polymer £ 5 note, the first to be issued in England and Wales. [91]
Flag of India.svg  India 17 March 2017The Reserve Bank of India announced that it will do trials of polymer 10 notes at five locations in India. [92]
Flag of Canada (Pantone).svg  Canada 1 June 2017The Bank of Canada (Banque du Canada) unveiled a C$ 10 polymer banknote to commemorate the 150th anniversary of confederation. [93]
Flag of Vanuatu.svg  Vanuatu 28 July 2017According to an article in the Vanuatu Daily Post, the Reserve Bank of Vanuatu issued a new version of the 5,000-vatu banknote, with the 500-vatu issued just a few months later to complete the new banknote series which were introduced back in 2014. [94]
Flag of England.svg  England September 2017The Bank of England issued a new polymer £ 10 note. [95]
Flag of Romania.svg  Romania 1 January 2018The National Bank of Romania issued all denominations with the new (revised) coat of arms of Romania. All the other features remained unchanged for all the denominations. [96]
Flag of Sao Tome and Principe.svg  São Tomé and Príncipe 1 January 2018The Banco Central de Sao Tome and Principe issued polymer banknotes in denominations of 5 and 10 dobras. [97]
Flag of Botswana.svg  Botswana February 2018The Bank of Botswana introduced a new 10-pula banknote printed on polymer to express the concern of the poor quality of the paper used in the printing of this denomination of banknote. [98]
Flag of North Macedonia.svg  North Macedonia May 2018The National Bank of the Republic of North Macedonia issued 10- and 50-denari polymer banknotes as part of a new series. [99]
Flag of Russia.svg  Russia 22 May 2018The Central Bank of Russia issued a 100 banknote to commemorate the 2018 FIFA World Cup. [100]
Flag of Uruguay.svg  Uruguay September 2018The Central Bank of Uruguay (BCU) printed a special and experimental edition of polymer banknotes with a value of 50 UYU to test reception and to celebrate the bank's 50th anniversary, that was in 2017, producing 10,000,000 units. [101]
Flag of Mauritius.svg  Mauritius December 2018The Bank of Mauritius has issued a 2,000-rupees banknote printed on polymer substrate and with revised security features, while at the same time all previous versions of the 2,000-rupees paper banknote ceased being legal tender by the end of January 2019. [102]
Flag of Morocco.svg  Morocco 2019The Central bank of Morocco introduced a 20 dirham polymer banknote to mark 20 years of enthronement of Mohammed VI. [103]
Flag of Albania.svg  Albania 2019The Bank of Albania introduced a new 200 Lek polymer banknote on 30 September 2019. [104]
Flag of Libya.svg  Libya 17 February 2019The Central Bank of Libya has issued a 1 Dinar banknote on 17 February 2019, in commemoration of the 8th Anniversary of the Libyan Revolution of 2011. [105]
Ulster Banner.svg  Northern Ireland 27 February 2019 Bank of Ireland, Danske Bank and Ulster Bank, commercial banks in Northern Ireland, each issued a new series of pound banknotes on polymer substrate for general use in Northern Ireland on 27 February 2019. [106]
Flag of the Solomon Islands.svg  Solomon Islands 2 May 2019The Central Bank of Solomon Islands introduced a new design of the SI$5 banknote, which was issued in conjunction of World Tuna Day. [107]
Flag of Samoa.svg  Samoa June 2019The Central Bank of Samoa announced the release of a new 10 Tala polymer banknote in June 2019, to commemorate the XVI Pacific Games 2019 which were held in Samoa from 7 July 2019. The 10 Tala banknote will be the second polymer banknote issued in Samoa and the first carbon offset banknote created from the polymer substrate. The new banknote is one of a kind for Samoa as it will have a horizontal front and a vertical back. The banknote will feature a see through window depicting the Pacific Games logo, and a tactile embossed feature to assist the visually impaired, both are unique features of polymer banknotes. The standard banknote prefix has been replaced with the special PG/XVI prefix denoting "XVI Pacific Game". Issuance of the new 10 Tala note will commence the last week of June 2019, and will co-circulate together with the existing 10 tala banknotes which will remain legal tender. [108]
Organisation of Eastern Caribbean States Mid-2019The Eastern Caribbean Central Bank started issuing a new family of banknotes from the EC$5 to the EC$100, all printed on polymer, a plan which has been announced since 5 September 2018.
Flag of Trinidad and Tobago.svg  Trinidad and Tobago 9 December 2019The Central Bank of Trinidad and Tobago issued a TT$100 polymer banknote for circulation on 9 December 2019, while announcing that all versions of the paper TT$100 banknotes will be demonetized and withdrawn from circulation on 31 December 2019. [109]
Flag of England.svg  England 20 February 2020The Bank of England issued a £ 20 polymer banknote. This the third banknote in the new series. [110]
Flag of Namibia.svg  Namibia 25 March 2020The Bank of Namibia issued a 30 dollar polymer banknote to commemorate 30 years of independence. [111]
Flag of Angola.svg  Angola 7 July 2020 National Bank of Angola issued 200, 500, 1000, 2000 Kwanzas banknotes on polymer substrate. [112]
Flag of Costa Rica.svg  Costa Rica 25 July 2020The Banco Central de Costa Rica issued a new family of polymer banknote in denominations of 1000, 2000, 5000, 10,000 and 20,000 colones. [113] [114]
Flag of Trinidad and Tobago.svg  Trinidad and Tobago 30 September 2020The Central Bank of Trinidad and Tobago issued a new polymer banknote family in denominations of 1, 5, 10, 20, 50 dollars. [115]
Flag of Saudi Arabia.svg  Saudi Arabia 4 October 2020The Saudi Arabian Monetary Authority has announced the 5-riyal banknote will be switched to polymer, replacing the current paper banknote, without any announcement on the other banknotes. The banknote was said to feature more environmentally friendly materials and additional security features, in addition to a much longer lifespan. [116]
Flag of Uruguay.svg  Uruguay October 2020The Central Bank of Uruguay replaced the commemorative 50 UYU polymer note in 2020 with a standard bill using the same design as the previous cotton note, as well as printing a 20 UYU polymer note. [117]
Flag of Mexico.svg  Mexico 21 November 2020The Banco de Mexico released a 100 peso polymer banknote as a part of the new Series G banknotes. [118]
Flag of Lebanon.svg  Lebanon 5 December 2020The Banque du Liban released a £L100,000 polymer banknote in circulation to commemorate the centenary of the establishment of Greater Lebanon. [119]
Flag of Cape Verde.svg  Cape Verde 8 January 2021The Bank of Cape Verde introduced a new 200-escudo note like the preceding issue printed in polymer, but printed on cotton paper. [120]
Flag of Botswana.svg  Botswana 22 February 2021The Bank of Botswana printed a new version of the polymer 10-pula banknote, but this time featuring president Mokgweetsi Masisi. [121]
Flag of England.svg  England 23 June 2021The Bank of England issued a £ 50 polymer banknote, completing sterling's transition from paper to polymer notes. This the fourth and final Series G banknote to be issued. [122]
Flag of Romania.svg  Romania 1 December 2021The National bank of Romania introduced a new 20 lei banknote, depicting World War I hero Ecaterina Teodoroiu. [123]
Flag of the United Arab Emirates.svg  United Arab Emirates 7 December 2021The Central Bank of the United Arab Emirates introduced the country's first polymer banknote - a redesigned Dh50 note to commemorate the golden jubilee of the country on 2 December 2021. [124]
Flag of Barbados.svg  Barbados 21 March 2022The Central Bank of Barbados announced its intent to replace the current paper banknotes with a newly designed polymer version by the end of the year. [125] The new designs of the polymer banknotes were revealed on 4 May 2022 and the notes were rolled out 5 December 2022 as scheduled. [126] [127]
Flag of Thailand.svg  Thailand 24 March 2022The Bank of Thailand started issuing ฿20 polymer banknotes bearing the image of Rama X. It is done to improve its quality as it is the most widely used banknote and hence it is prone to sustained damage. [128]
Flag of the Philippines.svg  Philippines 18 April 2022The Bangko Sentral ng Pilipinas started issuing the 1000-piso polymer banknote, the country's first polymer banknote. These banknotes began the phased issuance to banks, with the release of a limited quantity. [129]
Flag of the United Arab Emirates.svg  United Arab Emirates 21 and 26 April 2022The Central Bank of the United Arab Emirates started issuing new, redesigned Dh5 and Dh10 polymer currency notes. The 10-dirham banknote entered circulation on Thursday 21 April and the 5-dirham banknote entered circulation on Tuesday 26 April. [130] Following that, it was announced that the Dh1000 note will also be replaced and circulation will start on the first half of 2023. [131]
Flag of Egypt.svg  Egypt 6 July 2022The Central Bank of Egypt started issuing the new LE10 banknote which has been planned since the year 2020. The existing version of the LE10 banknote printed on paper will continue to circulate in parallel with the new polymer banknotes. [132] [133]
Flag of Qatar.svg  Qatar 9 November 2022The Qatar Central Bank announced a new 22-riyal banknote in commemoration of the 2022 FIFA World Cup, the first one ever held in the country and the Middle Eastern region as a whole. [134]
Flag of Australia (converted).svg  Australia February 2023According to a press release dated 2 February 2023, the Reserve Bank of Australia has decided to replace the portrait of the late Queen Elizabeth II on the A$5 banknote with a design celebrating the First Australians instead of a portrait of King Charles III. [135]
Flag of Poland.svg  Poland 9 February 2023The National Bank of Poland issued 100,000 20zł. banknotes to celebrate the 550th anniversary of the birth of scientist Nicolaus Copernicus. [136]
Flag of Egypt.svg  Egypt 21 June 2023Almost one year after the release of the new LE10 polymer banknote, the Central Bank of Egypt issued the new LE20 polymer banknotes. Just like the paper LE10 notes, the paper versions of the LE20 note will co-circulate with the new polymer version. [137]
Flag of Jamaica.svg  Jamaica 18 July 2023The Bank of Jamaica officially released a new banknote series that they've planned since the end of May 2022, and the new polymer series includes a $2000 note. This introduction of the new denomination is done in order to bridge the gap between the $1000 and $5000 denominations, reduce the number of notes needed for multi-thousand-dollar transactions, and eventually reduce costs for the central bank, due to a lower reliance on the $1000 note. [138] [139] [140] [141] [142] [143] [144]
Flag of the Solomon Islands.svg  Solomon Islands 27 October 2023According to a press release, the Central Bank of Solomon Islands announced the release of a new SI$10 banknote to commemorate the 2023 Pacific Games held in Honiara, which was the first time the country hosted the Pacific Games, held from 19 November to 2 December 2023. [145]
Flag of the United Arab Emirates.svg  United Arab Emirates 30 November 2023The Central Bank of the United Arab Emirates started issuing a new polymer version of the Dh500 banknote. [146]
Flag of Tonga.svg  Tonga 4 December 2023The National Reserve Bank of Tonga released a new family of six banknotes (ranging from 2 to 100 paʻanga), with the 5- and 10- paʻ anga being polymer. This new series was released on 4 December, the birthday of King Tupou I. [147] [148]
Flag of Samoa.svg  Samoa December 2023The Central Bank of Samoa started issuing new polymer versions of their 5-, 10-, and 20-tālā banknotes. [149] [150] [151]
Flag of England.svg  England 5 June 2024After the passing of Queen Elizabeth II on 8 September 2022, the Bank of England announced in November the same year that new banknotes featuring the portrait of King Charles III would be issued in mid-2024. Those notes were issued for circulation on 5 June 2024. [152] [153] [154] [155]
Flag of Mozambique.svg  Mozambique 16 June 2024The Bank of Mozambique announced that new 20-, 50-, and 100-metical banknotes would be issued in order to replace those which have been in circulation since 2011.
Organisation of Eastern Caribbean States June 2024According to an announcement by the Eastern Caribbean Central Bank in February 2024, a new EC$50 banknote would be released to commemorate the 50th anniversary of Grenada's independence from the United Kingdom in June 2024. [156]
Flag of Thailand.svg  Thailand 23 July 2024The Bank of Thailand issued 10,000,000 commemorative ฿100 banknotes to celebrate the 72nd birthday of King Rama X. [157]

See also

Notes

  1. Although the £5 Northern Bank polymer banknote was a one-off commemorative issued, unconventionally, in portrait orientation to mark the year 2000, it was in general circulation, with normal serial numbers (the commemorative version has serial numbers beginning with "Y2K", normal versions with "MM").[ citation needed ] It is the only Northern Bank note currently in circulation which was not affected by the recall of all the bank's notes as a result of the 26.5 million pound raid on its Belfast headquarters on 20 December 2004.[ citation needed ]

Related Research Articles

<span class="mw-page-title-main">Australian dollar</span> Official currency of Australia

The Australian dollar is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu. In April 2022, it was the sixth most-traded currency in the foreign exchange market and as of Q4 2023 the seventh most-held reserve currency in global reserves.

<span class="mw-page-title-main">Nigerian naira</span> Currency of Nigeria

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<span class="mw-page-title-main">Russian ruble</span> Currency of Russia

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<span class="mw-page-title-main">Kazakhstani tenge</span> Currency of Kazakhstan

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<span class="mw-page-title-main">Banknotes of the pound sterling</span> Promissory notes denominated in pounds sterling

The pound sterling is the official currency of the United Kingdom, Jersey, Guernsey, the Isle of Man, British Antarctic Territory, South Georgia and the South Sandwich Islands, and Tristan da Cunha.

<span class="mw-page-title-main">Malaysian ringgit</span> Official currency of Malaysia

The Malaysian ringgit is the currency of Malaysia. Issued by the Central Bank of Malaysia, it is divided into 100 cents.

<span class="mw-page-title-main">Brunei dollar</span> Monetary currency of the Sultanate of Brunei

The Brunei dollar, has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. The currency is divided into 100 cents and is issued by the Brunei Darussalam Central Bank.

<span class="mw-page-title-main">Saudi riyal</span> Currency of Saudi Arabia

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<span class="mw-page-title-main">Singapore dollar</span> Currency of Singapore

The Singapore dollar is the official currency of the Republic of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar.

<span class="mw-page-title-main">Nicaraguan córdoba</span> Currency of Nicaragua

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<span class="mw-page-title-main">Bangladeshi taka</span> Currency of Bangladesh

The Bangladeshi taka is the currency of Bangladesh. In Unicode, it is encoded at U+09F3BENGALI RUPEE SIGN.

<span class="mw-page-title-main">Pakistani rupee</span> Currency of the Islamic Republic of Pakistan

The Pakistani rupee is the official currency in the Islamic Republic of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan. It was officially adopted by the Government of Pakistan in 1949. Earlier the coins and notes were issued and controlled by the Reserve Bank of India until 1949, when it was handed over to the Government and State Bank of Pakistan, by the Government and Reserve Bank of India.

<span class="mw-page-title-main">Dominican peso</span> Currency of the Dominican Republic

The Dominican peso, officially the peso dominicano since 2010, is the currency of the Dominican Republic. Its symbol is "$", with "RD$" used when distinction from other pesos is required; its ISO 4217 code is "DOP". Each peso is divided into 100 centavos ("cents"), for which the ¢ symbol is used. With exception of the United States dollar, it is the only currency that is legal tender in the Dominican Republic for all monetary transactions, whether public or private.

<span class="mw-page-title-main">Fijian dollar</span> Currency of Fiji

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<span class="mw-page-title-main">Trinidad and Tobago dollar</span> Currency of Trinidad and Tobago

The Trinidad and Tobago dollar is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents. Cents are abbreviated with the cent sign ¢, or TT¢ to distinguish from other currencies that use cents. Its predecessor currencies are the Trinidadian dollar and the Tobagonian dollar.

<span class="mw-page-title-main">Banknotes of the Hong Kong dollar</span>

The issue of banknotes of the Hong Kong dollar is governed in the Special Administrative Region of Hong Kong by the Hong Kong Monetary Authority (HKMA), the governmental currency board and central bank of Hong Kong. Under licence from the HKMA, three commercial banks issue their own banknotes for general circulation in the region. Notes are also issued by the HKMA itself.

The notes of the Australian dollar were first issued by the Reserve Bank of Australia on 14 February 1966, when Australia changed to decimal currency and replaced the pound with the dollar. This currency was a lot easier for calculating compared to the previous Australian pound worth 20 shillings or 240 pence.

<span class="mw-page-title-main">Banknotes of Scotland</span> Scottish banknotes of the pound sterling

Banknotes of Scotland are the banknotes of the pound sterling that are issued by three Scottish retail banks and in circulation in Scotland. The Bank of Scotland, the oldest bank operating in the country, was the first bank in Europe to successfully print its own banknotes in 1695. The issuing of banknotes by retail banks in Scotland is subject to the Banking Act 2009, which repealed all earlier legislation under which banknote issuance was regulated, and the Scottish and Northern Ireland Banknote Regulations 2009. Currently, three retail banks are allowed to print notes for circulation in Scotland: Bank of Scotland, Royal Bank of Scotland, and Clydesdale Bank.

New Zealand dollar banknotes are the banknotes in circulation in New Zealand, the Cook Islands, Tokelau, Niue and the Pitcairn Islands, denominated in the New Zealand dollar. They are issued by the Reserve Bank of New Zealand and since 1999 have been made of polymer.

<span class="mw-page-title-main">Brazilian real</span> Brazilian currency since 1994

The Brazilian real is the official currency of Brazil. It is subdivided into 100 centavos. The Central Bank of Brazil is the central bank and the issuing authority. The real replaced the cruzeiro real in 1994.

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