New Zealand Upgraded Banknotes in 2014

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New Zealand banknote upgrade project underway

Date:   21 July 2011

The Reserve Bank announced today that planning has begun to upgrade New Zealand’s current series of banknotes.

Reserve Bank Governor Alan Bollard said the project will involve updating all five banknotes, the $5, $10, $20, $50 and $100.

“This upgrade will ensure our banknotes benefit from the technical advances that have been introduced in banknote security over the last 12 years. Such upgrades are carried out on a regular basis and help to maintain New Zealand’s low counterfeiting levels. The project will also look to improve the quality of these notes,” he said.

Dr Bollard emphasised that planning for the upgrade project is at an early stage and the various new banknotes will be progressively released from 2014 at the earliest.

A recent survey carried out by Nielsen for the Reserve Bank found the public is satisfied with the colours, design and themes of the existing notes and that the different note denominations were easy to distinguish. The public were also happy with the range of notes available.

“As a result of these survey findings, we will not be making significant changes to the overall themes of the notes themselves. This includes continuing to use the five respected individuals currently depicted on our notes.” Dr Bollard said.

“However, we are planning to modernise the designs, as modern printing techniques will allow us to give the notes a new look.

“At this point in the project it is envisaged the new notes will be phased in and will be used alongside the existing notes for a period once they are released.”

The Reserve Bank has already begun contacting business and consumer groups with a special interest in currency matters to gather technical feedback. Further such groups can contact the Bank at newnotes@rbnz.govt.nz.

Further details of the Currency Survey carried out by Nielsen can be found on the Reserve Bank website at http://www.rbnz.govt.nz/currency/.

Media Contact
Sonia Speedy
External Communications Adviser
Ph 04 471 3846, 021 663 082, sonia.speedy@rbnz.govt.nz

http://www.rbnz.govt.nz/news/2011/4468984.html

http://www.rbnz.govt.nz/currency/banknoteupgrade/4468985.html

Thanks for posting this. Very interesting.

Any update on this series of new bills?

New banknotes next step in NZ currency evolution

Date   5 July 2014

New Zealand’s currency will take another significant evolutionary step next year when modernised banknotes with more advanced security features are introduced, Reserve Bank Deputy Governor Geoff Bascand said in a speech today.

In a speech titled The evolution of New Zealand’s currency, Mr Bascand said the Reserve Bank is committed to meeting New Zealand’s future currency needs.

“While other means of payment keep growing, cash remains in strong demand, and we need to keep it current and viable for its users.”

“Security features and the technology for designing and printing banknotes have advanced considerably since the current banknote series was first issued in the early 1990s. While counterfeiting rates in New Zealand are low compared to the rest of the world, we need to stay one step ahead of the game.”

Mr Bascand said the Reserve Bank’s project to upgrade and improve the security of New Zealand’s banknotes is progressing well, and Canadian Bank Note Company (CBNC) has been selected to design and print New Zealand’s next series of banknotes.

“CBNC has a strong reputation for technologically advanced printing, and the Bank has confidence that it will deliver high quality banknotes which New Zealanders can continue to identify with and trust. CBNC currently manufactures New Zealand’s passports and prints the Bank of Canada’s banknotes,” Mr Bascand said.

The new banknotes will be the same size and denominations as the current series, and will continue to be made of a flexible polymer plastic. While the designs will be updated, the themes of the notes will remain the same, with the same New Zealanders, flora and fauna remaining central to the designs. The Bank expects to publicly release the ‘near final’ banknote designs in November, after they have been thoroughly tested.

Subject to successful testing, the new notes will be progressively released by denomination, likely starting in the fourth quarter of 2015. The new notes will co-circulate with the current notes for a period of time. Both the current series and new notes will be legal tender.

“The Reserve Bank will continue consultation with banknote equipment manufacturers and industry stakeholders in the lead-up to the release of the new notes, to ensure a smooth transition.”

Mr Bascand says the Bank is also evaluating new minting technologies which could allow coloured circulating coins, and is working with New Zealand Post to develop opportunities to mark next year’s Gallipoli centenary.

“Innovation is central to the New Zealand culture and important to the Reserve Bank. With this in mind, we will find new ways to celebrate New Zealand in our currency while preserving the core integrity, functionality and confidence in the product.”

For more information see these banknote upgrade questions and answers.

Media Contact:
Naomi Mitchell
External Communications Adviser
Ph 04 471 3960, 027 485 9474, naomi.mitchell@rbnz.govt.nz

http://www.rbnz.govt.nz/news/2014/5712844.html

http://www.rbnz.govt.nz/news/2014/5712844.html

Thank you for the info.

This is truly global trading. Canadian BoC going and buying Australian technology, NZ Reserve Bank getting their secure documents printed in Canada.

I wonder if the NZ bank notes will have elements similar to Canadian Bank notes (e.g. full window)

This is what the new banknotes look like. I know I will be getting some of them.
http://www.rbnz.govt.nz/notes_and_coins/notes/

Reserve Bank launches new $5 and $10 banknotes
Date   1 September 2015
Prime Minister John Key along with the Reserve Bank today launched the first two denominations in a series of new banknotes that include new security features.

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015.

Governor Graeme Wheeler said that while the banknotes are technologically sophisticated and difficult to counterfeit, they are also aesthetically pleasing.

“The polymer notes are striking in their design and innovative in their security with the transparent holographic window and colour-changing bird a world first.” said Mr Wheeler.

The new banknotes will be the same sizes and denominations as the current banknotes, and they will continue to be made of flexible polymer. While the banknotes are brighter, bolder, and clearer, the themes of the notes remain the same, with the same respected New Zealanders, the Queen and flora and fauna remaining central to the designs.

Mr Wheeler said all five denominations in the new banknotes carry the same security features that will help New Zealanders verify them with ease, and help to ensure that counterfeiting levels in New Zealand remain very low.

From mid-October the Reserve Bank will issue only the new $5 and $10 banknotes. The public may not see a new note for some time because the $5, and in many cases $10 notes, are not dispensed from ATMs.

The new banknotes, which will be called Series 7, will co-circulate with the current Series 6 notes. Both sets of banknotes will be legal tender.

The remaining $20, $50, and $100 banknotes in the new series will be released from April 2016.

http://www.rbnz.govt.nz/news/2015/reserve-bank-launches-new-5-and-10-banknotes.html