Barbados to launch new currency notes with security features on 4 May

Barbados is all set to launch new banknotes on May 04. As per reports, these currency notes are made of polymer material.

Monday, 2nd May 2022

Bridgetown: Barbados is all set to launch new banknotes on May 04. As per reports, these currency notes are made of polymer material that is very difficult to tear and are more durable. Not only that, these would also contain security features. The new series will be officially released by the Central Bank of Barbados on May 04, 11am onwards, while the actual circulation is expected later this year. Octavia Gibson, Director of the Bank's Currency and Payments Oversight Department, stated that it is time to show the public what the new notes would look like. She noted that a critical focus is paid aware people why the currency is being changed from regular paper notes to the polymer. She stated that Barbadians would be impressed with the new currency notes. Furthermore, she stated that historic Barbadians currently featured on the existing currency would also remain on new banknotes. But, the design is updated with a more modern look. "We also added new security features that the general public will be able to use to quickly and confidently authenticate their notes," Gibson further added. Along with Gibson, Central Bank Governor Cleviston Haynes and Gareth Evans, a representative from De La Rue will be key speakers at the launch ceremony. De La Rue has been printing currency notes for Barbados since the Central Bank began issuing them in 1973. The authorities have encouraged them to attend the event not only to see the new notes, but also to obtain answers to any questions they might have concerning the new series, according to the Central Bank official. Cleviston Haynes, the Governor of the Central Bank of Barbados, had announced the upcoming polymer series in March, and it will be only the second major redesign of Barbadian banknotes.

The polymer bank notes also perform better in automated sorting procedures and ATMs. They survive 2.5-4 times longer than notes printed on cotton-based substrate, despite being twice as expensive to make.