The governor of the Central Bank of Barbados recently announced the release of a new series of banknotes printed on a polymer substrate, which is more durable than the paper notes issued previously. On or around 5 December 2022 the Bank will put into circulation notes in the following denominations: BBD 2, 5, 10, 20, 50 and 100 (dollars).

The series will have a new look and advanced security features to prevent fraud. The notes will feature the same personalities as the previous series and will be in the same colours, but in monochromatic schemes similar to notes of the past.

Designs on both front and back sides will be in portrait (vertical) orientation, instead of the traditional landscape (horizontal) design. The dimensions of each note will be 150 x 65mm. Details about the security features will be available closer to the time of issuance.

Cash remains popular in the age of digital payments

The Central Bank of Barbados predicts that cash will remain popular even in the age of digital payments. The Bank explains, “In 2021, the value of currency in circulation was $960 million, the equivalent of almost 10 percent of GDP. Simply put, cash continues to be widely used. For some people it is their sole or at least their preferred way of paying, while for others, it is used in combination with other methods.”

Sources/References:

Central Bank of Barbados

Barbados Loop News

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