Governor of the Eastern Caribbean Central Bank (ECCB), Timothy Antoine, has announced that come September 2020, the polymer five-dollar banknotes are expected to be in circulation.
He made the announcement during a press briefing held at the ECCB Agency office at the Financial Centre in Roseau recently.
In June 2019, use of the polymer banknotes began with the circulation of the EC$50 banknotes. This was followed by the EC$100, EC$20 and EC$10 in August.
“The five-dollar bill should come later this year, so I would say September, at this point in time, based on where we are…,” he said
According to Antoine, the use of polymer banknotes has gone pretty well.
However, he said there have been a few issues in some of the ATM’s.
“Those are being resolved but for the most part, the roll-out has gone smoothly in most of our countries, everything, including the ten-dollar note,” he stated.
Meantime, Antoine said, the ECCB continues to be “very gratified” by the feedback from the visually impaired, “with the bumps at the left-hand top corner of the note because that really helps them.”
“They now feel empowered to spend their own money as opposed to being taken advantage of by people,” the ECCB Governor said.
The ECCB decided to change the material on which the EC banknotes are printed from paper to polymer since the polymer banknotes are said to be cleaner, safer, and stronger.