New $10 note in circulation tomorrow

The Reserve Bank of Australia (RBA) will be releasing the new $10 bank note tomorrow with 200 million units to be put into circulation, printed by Note Printing Australia, a subsidiary of the RBA.

Note Printing Australia uses the new KBA-NotaSys presses and has the older KBA Giori presses on site as well.

Philip Lowe, governor of the RBA says, “The new notes contain the same world-leading security features as the new $5 note, including a clear top-to-bottom window, and a tactile feature so that it can be recognised by vision-impaired members of the community.

The new tactile feature is made of raised bumps, which will vary in number on each denomination. The new $5 has one bump on each of the long edges of the banknote next to the top-to-bottom window. The new $10 will have two bumps on each of the long edges.

[Related: Dashing wins BoQ contract]

Lowe says, “In preparing the new banknotes for release, the Reserve Bank has been working with cash handlers, businesses and machine manufacturers to ensure that the new banknotes can be used in a broad range of day-to-day transactions across the country, including in machines that take or dispense banknotes.

“The existing series of banknotes can continue to be used, as all previously issued banknotes remain legal tender.”

The RBA also says businesses with cash handling machines have been given six months to prepare for the new note in circulation as last year a number of businesses and money machines were having trouble recognising the new $5 note.

The RBA says the next tender to be recreated will be the $50 note, which is expected to be released in late 2018.

The new $10 banknote continues to feature two of Australia's most prominent writers, Dame Mary Gilmore and AB Banjo Paterson.

Comment below to have your say on this story.

If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.  

Sign up to the Sprinter newsletter

Leave a comment:

Your email address will not be published. All fields are required

Advertisement

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.
Advertisement