Tuesday, June 10, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

New Jamaican banknotes now available

Simon Osuji by Simon Osuji
June 17, 2023
in Politics
0
New Jamaican banknotes now available
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

Minister of Finance and the Public Service, Dr Nigel Clarke, displays a $500 bill from the new series of banknotes that was launched during a press conference at the Bank of Jamaica (BOJ), June 15 [Photo: Mark Bell]

Related posts

Reading the market’s pulse: Monitoring investors’ risk appetite

Reading the market’s pulse: Monitoring investors’ risk appetite

June 10, 2025
Une Mer d’Espoir : Douala Accueille Maurice Kamto

Une Mer d’Espoir : Douala Accueille Maurice Kamto

June 10, 2025

By Latonya Linton

KINGSTON, Jamaica, (JIS) – The new series of polymer Jamaican banknotes was officially released to the public today and can be obtained from the Bank of Jamaica and commercial banks.

The series comprises upgraded $50, $100, $500, $1,000 and $5,000 notes, and the newly introduced $2,000 bill.

In a series of posts on Twitter, minister of finance and the public service, Dr Nigel Clarke, said this is only the second time in Jamaica’s history that an entirely new series of banknotes is being issued.

“The last time was at the dawn of our Independent nation in the 1960s. Technological advances have introduced new polymer substrates that allow for durability of banknotes, substantially lowering costs over the life of the note. Increased durability will mean longer average circulation life of our banknotes, which, in turn, will reduce reorder frequencies and quantities,” he pointed out.

The $50 note features National Heroes, the Right Excellent Paul Bogle and the Right Excellent George William Gordon, while Jamaica’s first National Hero, the Right Excellent Marcus Mosiah Garvey, appears on the $100 bill.

National Heroes, the Right Excellent Samuel Sharpe and Nanny of the Maroons, grace the $500 note, while National Heroes, the Right Excellent Sir Alexander Bustamante, post-Independent Jamaica’s first prime minister, and the Right Excellent Norman Manley, are featured on the $1,000 denomination.

Two former prime ministers, Edward Seaga, and Michael Manley are highlighted on the $2,000 bill.

Another two former prime ministers, Sir Donald Sangster and Hugh Shearer, appear on the $5,000 note.

Dr Clarke pointed out that the government has “used the opportunity to restore our National Heroes to our banknotes, consistent with the original practice and intent”.

“It is only the experience of chronic macroeconomic instability, inclusive of devaluation of 50,000 percent over 40 years, that removed them,” he added. Jamaica joins several other countries whose currencies have been upgraded to polymer substrate.

Dr Clarke advised that the Eastern Caribbean Central Bank, which is the monetary authority for Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, Saint Lucia, and St Vincent and the Grenadines, upgraded its notes between 2019 and 2021.

Trinidad and Tobago and Barbados also upgraded their family of banknotes over the last few years, while Australia, Canada, Ireland, New Zealand, Scotland, United Kingdom and 25 other countries also use the new polymer substrate.

Source link

Previous Post

Luna the rock star, Shifty Schiff and 20 squishy Republicans

Next Post

NBA veteran Tony Snell finds out he has autism at age 31, feels relieved

Next Post
NBA veteran Tony Snell finds out he has autism at age 31, feels relieved

NBA veteran Tony Snell finds out he has autism at age 31, feels relieved

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

China to focus on promoting digital economy in new 10-year plan

China to focus on promoting digital economy in new 10-year plan

2 years ago
39 richest banks in Kenya by asset base – CBK report

39 richest banks in Kenya by asset base – CBK report

9 months ago
Drug compounders sue FDA over declaration ending Wegovy shortage

Drug compounders sue FDA over declaration ending Wegovy shortage

4 months ago
The Viral ‘Goodbye Meta AI’ Copypasta Will Not Protect You

The Viral ‘Goodbye Meta AI’ Copypasta Will Not Protect You

9 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.