Friday, January 19, 2018

New features added to polymer $50 note

:‘For the visually impaired’: The redesigned bill has three ­features which differ from the original polymer $50.

A REDESIGNED polymer $50 banknote which incorp orates tactile features for the visually-impaired is currently in circulation in this country.
However, lack of information with respect to the redesigned bill has caused a measure of concern among citizens.
The redesigned bill has three features which differ from the original polymer $50. These features caused citizens to question if the redesigned bill was, in fact, a “counterfeit” one.
But Central Bank Governor Jwala Rambarran confirmed the authenticity of the new bill yesterday. “It’s not a counterfeit note. Polymer is virtually impossible to counterfeit. It’s a Series 2015 note that incorporates a tactile embossed feature for the visually impaired. It’s the first polymer note in the world to have such an innovative feature,” said Rambarran.
The gold-coloured polymer $50 banknote was first issued in ­December last year. In May, it won the Internatio­nal Bank Note of the Year Award 2014.
In August 2012, an olive green $50 banknote was put into circulation.
With the addition of the redesigned polymer, there are now three types of $50 bills in circulation.
While the Central Bank’s website highlights the key characteristics of this country’s currency notes, information on the redesigned polymer $50 banknote is not yet available.
National director of the youth arm of Open Bible Standard Chur­ches Raymond Ockille yesterday described this lack of information from the Central Bank on the redesigned bill as “disrespectful”.
Ockille highlighted the differences in the two polymer notes on his Facebook page on Saturday. The post went viral. “When I first saw the two (polymer) bills, I felt as though ‘wow, we have more counterfeit dollars’. You know it is Christmas time and you know it is a season where people over the years have been deceived, people have been robbed. When I found out the bill was something legitimate from the Central Bank, I was very disappointed with the authorities and I felt as though we as citizens we are being disrespected.”
Charlene Ramdhanie, the Central Bank’s senior manager, strategic communications and international relations, yesterday sought to allay all the public’s fears with relation to the redesigned bill.
Ramdhanie said the bill went into circulation three weeks ago.
An official handover with the Blind Welfare Association is scheduled to take place at 10.30 a.m. today.
Ramdhanie said the new features added to the redesigned polymer $50 bill are not considered “major changes”.
“They are not considered major changes, they do not change the look of the note in such a drastic way that requires us to do another blanket promotion or blanket campaign. What we were simply going to do is inform the public once we had the handover with the Blind Welfare Association.”
Ramdhanie said the Central Bank introduced the polymer bills into this country in 2014 with the visually-impaired in mind as the material enables tactile features to be included.
“So it is not a counterfeit, there are no (polymer) counterfeits circulating, this note is virtually, and I want to stress this, it is virtually impossible to counterfeit polymer money,” said ­Ramdhanie.