Reserve Bank of Vanuatu completes their new banknote family on Guardian™ with launching of 500 Vatu note
27 October 2017
Tanna, Vanuatu – Vanuatu’s new banknote series on Guardian™ polymer was completed with the introduction of the VT500 denomination on 27 October 2017.
Reserve Bank of Vanuatu (RBV) Governor Simeon Athy stated that “The [Guardian™] polymer series of banknotes is the first major transformation in Vanuatu’s currency since the introduction of the Vatu paper banknotes as legal tender in 1982. Another major change to the Vatu family also took on board the issue of a complete new coin series, which was released in August 2015 to replace the first coinage series of 1983.”
“Like the new VT5000 banknote released earlier in July, the new VT500 note will also incorporate an effective tactile feature to assist visually impaired people. The new banknote incorporates the theme of culture and features the frontage of the original ’Nakamal blong ol Jifs’ and other cultural activities, such as sand drawing and traditional dancing. In continuation with existing practice of replaced paper notes, the new banknote will co-circulate the existing VT500 paper note as legal tenders. RBV will continue to withdraw all the replaced paper notes from public circulation until such time when the Bank decides to demonetise them.”
RBV Governor Simeon Athy also mentioned that “polymer banknotes have a proven record in many countries, including Vanuatu, of being more durable and secure than paper notes and this has been reflected in the performance of the first issues of the [Guardian™] polymer banknotes.”
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