The South African Reserve Bank (SARB) on Monday launched banknotes with improved security features which will go into circulation from February 1.
The bank said it regularly revises the security features and design of banknotes because the bank is committed to ensuring the public has reliable currency. The SARB last changed South Africa’s banknotes in 1992.
The new banknotes will retain the “big five” animal motif on the front and the economic sector themes on the back. There will, however, be some design changes.
Celebrating South Africa’s democracy, the upgraded banknotes will be the first to show the South African coat of arms and to use all eleven languages across the denominations, the SARB said in a statement.
The improved security features will make it easier for the public to distinguish between good banknotes and counterfeit banknotes and will also give the upgraded banknotes a distinct look. Examples of this are the shimmering gold band — visible on the back of the banknote when it is tilted — as well as the colour-changing ink on the number value on the front bottom right of the R50, R100 and R200 banknotes.
As the Reserve Bank has not “demonetised” any of its currency, the current banknotes will remain legal tender and will circulate simultaneously with the upgraded banknotes. There will be no need for the public to exchange the current banknotes for upgraded banknotes.
However, the upgraded banknotes are likely to become the predominant banknotes in circulation by the end of this year, as upgraded banknotes replace current banknotes that have become worn and dirty. I-Net Bridge