The Eastern Caribbean Central Bank (ECCB) has announced that come June 2019, it will be putting polymer banknotes which are cleaner, safer and stronger, into circulation.
According to the bank’s official website, the circulation will commence with the new $50, followed by the $100, $20 and $10 in August-September and the $5 in 2020.
The ECCB said paper and polymer banknotes will be in circulation at the same time.
“In conducting your business you may receive both polymer and paper banknotes,” the institution advised.
The bank disclosed that polymer banknotes are produced from a thin, transparent and flexible plastic film made from polypropylene.
Explaining the change from paper to polymer, the ECCB noted several advantages.
“Polymer banknotes stay cleaner than paper notes as they are resistant to dirt and moisture,” the bank stated.
It also asserted that polymer banknotes can incorporate advanced security features which make them more difficult to counterfeit.
In addition, the ECCB observed that polymer banknotes last at least two and a half times longer than paper notes, making them more environmentally friendly.