Modernized banknotes in circulation next month
On Monday 7 April 2014, Narodowy Bank Polski will start a gradual introduction of banknotes with modernized security features to circulation. The modified banknotes, with face values of 10, 20, 50 and 100 zloty, will replace worn or damaged banknotes that are withdrawn from circulation under regular operations of cash provision to commercial banks. All the banknotes currently in circulation will remain legal tender for an indefinite time.
“The main goal of modernizing the security features is to keep the security of cash transactions at the highest level over the next years. At the moment, Polish banknotes are seldom counterfeited (around 8 cases of counterfeiting against a million of banknotes in circulation), yet technological advances having taken place in the area of banknote securi-ty features over the past 20 years call for such an operation. Narodowy Bank Polski is now ready to put banknotes with modernized security features into circulation”, says Marek Oleś, Director of the Cash and Issue Department of NBP.
Narodowy Bank Polski has successfully completed acceptance tests of all sorters. They confirmed that the devices were ready to process the modernized banknotes. In December 2013, NBP provided professional cash handlers with the modernized banknotes, to allow them to calibrate the devices which required such adjustment (sorters, counters, deposit ATMs, dispensers, etc.) Since last year, Narodowy Bank Polski has held intensive training sessions for over 5 thousand people professionally handling cash. The Bank also cooper-ates with commercial banks and other businesses that handle cash.
“It is worth stressing that Narodowy Bank Polski will not be taking any dedicated measures to withdraw the current banknotes. The modernized banknotes will replace the damaged or worn ones, so during the first few months they will account for a mere frac-tion of all banknotes in circulation”, adds Director Marek Oleś.
The graphic design of the modernized banknotes has not changed, yet the new securi-ty features will distinguish banknotes of the new issue from the old ones. The most signifi-cant changes the public will see on the modernized banknotes are the watermark on an unprinted field, introduction of iridescent ink and an enhanced recto-verso security fea-ture. It is worth remembering that the banknote with the face value of 200 zloty will re-main unchanged for the time being, and none of the modernized banknotes will come into circulation before 7 April 2014.
Things to keep in mind:
- in a month’s time, on 7 April, NBP will commence the provision of the mod-ernized banknotes to the commercial banks; thus, the banknotes will start their general circulation;
- the operation is of a purely technical character - the images will not change significantly; only the security features will be modified;
- the current banknotes will be legal tender indefinitely;
- the 200 zloty banknote is not due for modernisation for the time being - yet, bearing the security of cash transactions in mind, banknote modernisation is an ongoing process.
Detailed information about the modernized banknotes is available at the www.nbp.pl website. Should you have any queries or requests, please contact the NBP Press Office at: email@example.com, phone 22 185 20 12 or 22 185 25 27).