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New RD$20 banknote coming on July 1st
posted on: Jun 14 2010 7:40 by Royston. Viewed 493 times.
The Central Bank has announced the issue of a new RD$20 banknote from July 1st.
The new note will be made form a non-fibrous polymer and is expected to last in circulation three to four times longer than traditional paper bills.
It is also more hygienic because it absorbs less moisture, sweat and dirt. Another benefit is that new technology makes it possible to incorporate new and more effective security measures to prevent counterfeiting.
"With the issuance of the first of RD$20 polymer banknote, the Central Bank places the country at the same level of monetary standards in manufacturing notes as countries such as Australia, Chile, China, Mexico, Taiwan, Costa Rica and Nicaragua, among others," says a press release.
The printing of this new bill was approved by the Monetary Board through its eighth resolution on 28 May 2008, after the Competitions Committee for Banknote Printing and Minting of coins considered the advantages of this technology for the manufacture of banknotes of low denomination.
On July 24, 2009, the printing contract was sent out to international competitive bidding
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