Author: MNI Media | Date: 21 May 2019
The Eastern Caribbean Central Bank (ECCB) will put EC polymer banknotes into circulation starting June 2019.
According to the ECCB this will begin with the new $50 note, followed by the $100, $20 and $10 notes in August/September and the $5 note in 2020.
Paper and polymer banknotes will be in circulation at the same time says the ECCB.
Business must be aware that in conducting their business, they may receive both polymer and paper banknotes.
More info on the notes below:
What is polymer?
Polymer banknotes are produced from a thin, transparent and flexible plastic film made from polypropylene.
Why the transition from paper to polymer?
The Eastern Caribbean Central Bank decided to change the material on which the EC banknotes are printed from paper to polymer because polymer banknotes are:
CLEANER: Polymer banknotes stay cleaner than paper notes as they are resistant to dirt and moisture.
SAFER: Polymer banknotes can incorporate advanced security features which make them more difficult to counterfeit.
STRONGER: Polymer banknotes last at least two and a half times longer than paper notes. This also makes them more environmentally friendly.