ECCB to introduce new polymer notes in June, 2019

Polymer versions of the $100 and $50 EC notes

Come June 2019, the Eastern Caribbean Central Bank (ECCB) will put polymer banknotes into circulation, beginning with the EC$50.

 This will be followed by the EC$100, EC$20 and EC$10 in August/ September and the EC$5 in 2020.

This information was revealed through a video conference of a launching ceremony held at the ECCB agency office in Grenada on Wednesday.

The ECCB decided to change the material on which the EC banknotes are printed from paper to polymer since the polymer bank notes are said to be cleaner, safer, and stronger.

Chairman of the ECCB Monetary Council, Prime Minister and Minister for Finance of Grenada, Dr. Keith Mitchell who spoke during the ceremony, said the ECCB is creating history.

“Today’s launch of the EC family polymer notes provides a clear demonstration of the bank’s leadership, innovation and commitment [to] protecting our currency,” he said.

According to him, it was just over a year ago when the Monetary Council acting on the advice of the bank, took a bold decision to change the material on which the ECCB bank notes are printed from paper to polymer.

Mitchell further stated that the polymer is more durable.

“From a security standpoint, the new polymer notes will allow for introduction of more advanced features to better protect our EC currency, making it even stronger,” the Grenada Finance minister stated.

He revealed that the EC$50 note which is being launched, includes the portrait of the former Governor of the ECCB, the late Sir Dwight Venner.

“In all of his legacy and service to the Eastern Caribbean Currency Unit, Sir Dwight must be recognized for the tremendous contribution [he made]…,” Mitchell stated. “The country is pleased to unveil the $50 note in his honor and in his memory.”

He encouraged the region to embrace the opportunity which he said should be recorded as a significant milestone.

Mitchell commended the Governor of the ECCB, Timothy Antoine who he said had a vision for this development.

He also recognized the critical role played by the ECCB team.

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4 Comments

  1. OECS Citizen
    December 10, 2020

    When will the bank finally remove the yoke of slavery from the front of our currency?

  2. Citizen
    May 31, 2019

    When will they dump the stupid dollar coin to stop forcing a mans pockets ?

  3. Pipo
    May 30, 2019

    How long will the existing paper note be valid and till when can we use them. Do vendors and shops have to accept them or can they refuse. This could also be a way to flush out largan chess from illegal and not declared income because these fellows will have to change that for new money.k

  4. Iamanidiot
    May 30, 2019

    Good that it’s durable and good looking, because the way banks want to charge you everytime you swipe your card, everytime you card gets declined, everytime you use the ATM, everytime you go to a teller, everytime you walk on the street with an ATM.
    I might have to go back to the good old days of stashing under my mattress.

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