Montserrat Closer to Getting New Eastern Caribbean Currency Notes
The Eastern Caribbean Central Bank is stepping up its public information campaign on the soon-to-be- released new bank notes.
Rosbert Humphrey the Acting Director of the Currency Management Department and Shermalon Kirby Advisor in the Corporate Relations Department held a series of meetings with stakeholders on the island this week.
During the meetings, the officials gave an update on the polymer notes including the major changes.
These include modernized images and landmarks, unique tactile features on each note for the blind and visually impaired, and holographic foil-strip.
Circulation of the $50 notes is expected to start in May/June this year, followed by the $10, $20 and $100 in August/September.
The $5 note would be circulated in the year 20/20.
The notes currently in use would remain legal tender for up to 5 years.
The new notes feature landmarks from each of the ECCB member states.
The historic Montserrat Government House, now partially destroyed by the volcano, is featured on the $20.00 note.
The new notes will be made from a polymer-based material, and will replace the current notes made from cotton.
A key difference between the current and proposed new notes is the orientation. The new notes will be lateral — not horizontal like the current ones. Other crucial differences are the enhanced security features.
The $20, $50 and $100 notes will have a ‘holographic window’, or see-through window, so when one holds the note up to light, they will see through that holographic panel. Therefore, if someone attempts to make copies of the note, that portion will turn black.
The $5 and $10 have similar holographic windows but on a smaller scale. There’s a triangle with a feature coloured plant and in that holographic window – the smaller one – will have the same feature so if the note is held up, one can see through that particular holographic window.
For the $20, $50 and $100 notes, the Bank has opted to include a full holographic pane with features embedded in it so that someone holding up the note to light will see the features through the pane, which protects the note against being counterfeited.