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NEW POLYMER BANKNOTES

GEISHA KOWLESSAR-AlONZO

[email protected]

The Central Bank has unveiled its concept designs for the new polymer banknote series.

According to the bank’s website which displayed the new notes, the elements of the updated design are consistent with the $100 polymer notes that replaced the old cotton-based notes which ceased to be legal tender on December 31, 2019.

The new bank notes in the $50, $20, $10, $5 and $1 quantities feature T&T Coat of Arms, the national flag above the bills’ denominations and a clear window which can be seen from the front and back of the note.

All bills will maintain local birds featured on the notes currently in circulation: the Red Capped Cardinal ($50), the Hummingbird ($20), the Cocrico ($10), the Blue crowned mot-mot ($5) and the Scarlet Ibis ($1).

The Pointe-a-Pierre refinery on the right side of the back of the $1 note has been replaced with an image of the Red House.

All the banknotes remain the same defining colour, but the Bank’s award-winning $50 Banknote has got a make-over.

It is now entirely orange and does not have hints of green or yellow.

The Central Bank had previously indicated that some denominations of the new notes will be available from September 2020.

The banknotes will also incorporate upgraded security features—tactile imprint, micro-perforations, micro-lettering, shimmering metal print and updated security thread applications.

Polymer notes are also more durable, cleaner options to cotton-based notes which redounds to overall cost savings.