The Eastern Caribbean Central Bank has announced that it will issue a new series of polymer banknotes in 2019, the first polymer notes to be issued by the Bank.
According to the ECCB, the decision to change to polymer is to increase the durability of the banknotes in circulation throughout the Eastern Caribbean, which have previously been printed on traditional cotton substrate.
With a longer note life, the Bank says it will experience long-term cost savings on banknote production.
It is the first time the ECCB has issued a new banknote series since 1993, though the previous series has had several upgrades since its launch.
The new banknotes will be designed vertically, rather than horizontally as per previous designs.
The colour scheme of each denomination will continue to be the same as before to aid public recognition and acceptance of the new banknote family.
With the use of polymer, new security features will be included in the new designs. The highest three denominations, the $20, $50 and $100 notes, will have a holographic see-through window.
If a counterfeiter were to try and scan the banknote, this holographic window appears black due to specialised technology incorporated into the clear window. The $5 and $10 have similar holographic windows but on a smaller scale.
The new banknotes will begin to circulate next year, starting with the $50 and $100 notes expected in the middle of 2019.
