Standing Secure with New Barbados Series

The Central Bank of Barbados (CBB) has unveiled the designs of its new polymer banknote series, which will be introduced on 5 December, two days after it celebrates its 50th anniversary.

The new notes – with the theme ‘Standing Secure’ – will retain the same designs and motifs as the current paper notes, which were issued in 2013, but these have been modified to fit the new vertical orientation on both sides of the notes. The colours of the existing series will also be retained but made more vivid to enable clearer differentiation between the denominations, particularly for the visually impaired. In addition, the notes will contain tactile marks in different shapes to further aid differentiation for this group.

There are six notes in the series – the $2, $5, $10, $20, $50 and $100 banknotes, which feature notable Barbardians John Redman Bovell, Sir Frank Worrell, Charles Duncan O’Neal, Samuel Jackman Prescod, Errol Barrow and Sir Grantley Adams, respectively. The reverse of the notes features vignettes relevant to the portraits on the front.

The three lower denominations will have a clear window on which the vignette on the reverse of the note is printed in iridescent ink. On the three higher denominations, the equivalent vignettes are captured in a holographic stripe.

The notes have been designed and produced by De La Rue on its SAFEGUARD® substrate.

According to the CBB, the decision to switch to polymer was taken on the grounds of durability, cost and security.

Despite the fact that Barbados is in the vanguard of countries looking to develop a digital currency, cash remains central, according to Governor Cleviston Haynes.

‘We envisage that even in the age of digital payments cash will remain a part of the mix. Indeed, cash remains popular. In 2021, the value of currency in circulation was $960 million, the equivalent of almost 10% of GDP. Simply put, cash continues to be widely used,’ he commented at the launch of the new series.