Etienne Creux
Gill Marcus Governor of the SA Reserve Bank unveiling the new series of banknotes honouring former president Nelson Mandela, with her is Hengani Mathebula of the Reserve Bank
Watermarks UV light, tilting bars and latent images are some of the major security features of the new Mandela banknotes that will start circulating by the end of the year.
The notes, which have been redesigned, will also be printed on a stronger paper to ensure a longer duration in circulation.
The notes feature the face of Nelson Mandela on one side and the Big Five on the other.
The SA Reserve Bank said it had put in everything to discourage counterfeits.
The range is themed “One of a kind” and has R200, R100, R50, R20 and R10 notes.
“We intend to introduce the notes into circulation by the end of this year,” Reserve Bank governor Gill Marcus said. The notes would circulate side by side with the existing ones.
“There is about R100 billion worth of currency in circulation at the moment, so phasing that out could take any amount of time,” she said.
Marcus said both the new and existing notes would remain legal tender until the withdrawal process was complete.
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