Upgraded banknotes with improved security features will be issued from February 1 next year, the South African Reserve Bank (SARB) said on Monday.
This follows the introduction of a new bi-metal R5 coin on August 2 this year. The coin has a bronze-coloured centre and a silver-coloured border.
The bi-metal R5 coin has distinct security features, which makes it easier for the public to distinguish between good coins and counterfeit coins.
Security features on the bi-metal R5 coin include a security groove on the rim of the coin; serrations on both sides of the security groove; “SARB R5” engraved into the security groove and micro-lettering depicting “SARB” on the reverse side of the coin.
The SARB has enhanced some of the security features and revised some of the designs on its currency in line with international best practice.
The upgraded security features have been introduced to maintain public confidence by ensuring that South Africa’s currency employs the latest internationally available technology.
The design changes and upgraded security features of the notes will be made public on January 17, approximately two weeks before the upgraded banknotes are issued.
This will coincide with an extensive public communication campaign to educate the public on the changes to the banknotes’ design and security features.
The current banknotes will remain legal tender alongside the upgraded banknotes and will continue to be accepted. — I-Net Bridge