Tonga Introduces New Series of Banknotes into Circulation

Image
The National Reserve Bank of Tonga (NRBT) unveils new series of banknotes featuring Polymer substrates and enhanced security features. On December 4, the National Reserve Bank of Tonga (NRBT) marked a significant milestone with the launch of Tonga's new series of banknotes. The chosen date for the release holds special significance as it commemorates the birthday of King Tupou I, a key modernizer who reigned from 1845 to 1893. Produced in collaboration with De La Rue, the new banknote series incorporates both paper and polymer substrates, introducing updated security elements to enhance durability and deter counterfeiting. This redesign represents Tonga's first use of polymer in its currency since 2015. The series comprises 2-, 5-, 10-, 20-, 50-, and 100-pa’anga notes, with the colors remaining unchanged. Notably, the 5- and 10-pa’anga denominations have transitioned to polymer due to its proven durability, particularly for extensively circulated notes. With one pa’anga being e...
Post a Comment

CBSI to Launch New $10 Commemorative Banknote Soon

The Central Bank of Solomon Islands (CBSI) is excited to announce its plans to release a new limited-edition $10 commemorative banknote to mark a significant event in the history of the Solomon Islands nation—the XVII Pacific Games 2023, scheduled to be held in Honiara, Solomon Islands, in November.

Here are some important details about this commemorative banknote:

Design and Production: The new $10 banknote has been crafted using Safeguard polymer by De La Rue, a renowned currency and security printing company in the UK. This choice of material is known for its durability and intricate security features that make counterfeiting extremely difficult.

Purpose: This commemorative banknote has been designed to commemorate the XVII Pacific Games 2023, a momentous occasion for the Solomon Islands. Once officially launched, this banknote will be available for both everyday use in circulation and as a collector's item, serving as a special memento to celebrate and remember the PG 2023.

Official Launch: The new banknote is set to be officially unveiled ahead of the XVII Pacific Games 2023, with a tentative launch date of October 27, 2023. Following its introduction, it will be widely circulated as a $10 denomination throughout the Solomon Islands.

Tradition of Commemorative Banknotes: CBSI has a longstanding tradition of issuing commemorative banknotes to mark pivotal moments in the country's history. This practice underscores the central bank's commitment to supporting the Solomon Islands Government and its people, as well as its dedication to welcoming participating countries to the XVII Pacific Games 2023.

Collector's Item: The commemorative banknote is not only a means of celebrating the event but also an ideal collector's item. These banknotes come in limited editions and can be cherished and passed down through generations, making them valuable tokens of the nation's history.

Promoting National Pride: CBSI's initiative to release this commemorative banknote aligns with its commitment to promoting national pride and preserving the unique cultural heritage of the Solomon Islands.

Care and Responsibility: CBSI encourages all citizens to take good care of these commemorative banknotes, emphasizing that they represent silent ambassadors for their country. Proper handling and care ensure that these banknotes can continue to be enjoyed for years to come.

Availability: The new $10 commemorative banknote will be made available to the public after its official launch.

This commemorative banknote serves as a special way for the Solomon Islands to celebrate a significant event and share its culture and history with both its citizens and visitors.

About the Central Bank of Solomon Islands (CBSI):

The Central Bank of Solomon Islands (CBSI) is the central monetary authority of the Solomon Islands, responsible for implementing monetary policy, managing currency issuance, promoting financial stability, and regulating financial institutions. CBSI is committed to maintaining price stability, fostering economic growth, and supporting financial inclusion to contribute to the overall development and well-being of the people of the Solomon Islands.

Comments

Post a Comment

Popular posts from this blog

Inspiring Banknote Collection: Cricket and Its Players

Image
Paper money collectors often focus on a specific nation or even a particular series. This column is designed to offer ideas for building a collection of notes from around the world centered on a cricket theme. While cricket stands as the most popular sport globally, engaging approximately a quarter of the planet's population as fans, it's interesting to note that there are relatively fewer banknotes featuring both its players and the sport. Exploring this niche can add a unique dimension to your collection, capturing the essence of a sport cherished by millions worldwide. Consider seeking out these distinctive banknotes to enrich your collection and showcase the diverse ways in which cricket is celebrated across different cultures and regions. Most of the $5 banknotes from Barbados feature the bust of Sir Frank Worrell on the obverse. However, the banknotes issued in the 2013 series showcase the 3Ws Oval cricket field in Barbados on the reverse side, honoring three leg...
Read more

Bank Al-Maghrib Officially Releases New MAD 200 Banknote

Image
Morocco’s central bank, Bank Al-Maghrib, has officially declared the issuance of the new MAD 200 banknote. The announcement aligns with the commemoration of the 80th Independence Manifesto, marking the formal manifesto for independence in 1944. Issued under the leadership of King Mohammed VI, the new MAD 200 banknote aims to showcase Morocco’s economic and industrial progress. On the front, the banknote features the portrait of King Mohammed VI, accompanied by the striking image of the Mohammed VI bridge. Turning to the reverse side, the banknote highlights the construction of the Mohammed VI Tower and the Marrakech Menara International Airport. It also pays homage to Morocco’s industrial development and advancements in digital technology. Bank Al-Maghrib emphasized that the new banknote incorporates state-of-the-art security features, including a "three-dimensional dynamic security thread," color-changing magnetic ink, and front and back registration patterns, along with pro...
Read more

₹2000 Banknotes to be Phased Out in 5 Days!

Image
The Reserve Bank of India (RBI) has issued an order to withdraw the highest denomination banknote, the 2,000-rupee note, on May 19, 2023. This move comes almost seven years after its introduction in November 2016 to remonetize the economy, following Prime Minister Narendra Modi's sudden decision to invalidate 1,000 and 500 rupee notes as legal tender overnight, as part of an anti-corruption initiative. Despite the majority of the 3.56 trillion rupees being deposited, approximately 7 percent of these notes were still in circulation as of September 1, 2023, amounting to ₹24,087 crore ($2.9 billion). The pink-hued 2,000-rupee note quickly became a popular choice for storing value and conducting significant cash transactions. In its withdrawal notice, the RBI explained that the 2,000-rupee banknotes had served their intended purpose and were no longer in widespread circulation. The central bank also referenced its 'clean note policy,' which mandates the replacement of worn or s...
Read more