The new series $5 and $10 polymer banknotes are being dispensed by banks and retailers from today though only in small quantities to begin with. Around 345,000 new notes have been sent to banks to meet their orders, whilst there are 45 million $5 and $10 series 6 banknotes already in circulation, and consequently, it may be some weeks before the public start to see the new banknotes.
“This is because the Reserve Bank distributes banknotes only when it receives orders from banks. Orders for replacement of $5 and $10 notes come in less frequently than other denominations as they tend to circulate much more between retailers and consumers.” Brian Hayr, Head of Currency, Reserve Bank of New Zealand
The new notes are printed on a Innovia Security’s Guardian® polymer substrate and incorporate modern security features such as a large transparent holographic window – jointly developed by Canadian Bank Note, KBA-NotaSys and KURZ – and the new optically variable feature from SICPA, SPARK® Live.
Find out more about New Zealand’s seventh series of banknotes, click here.
(Image courtesy of the Reserve Bank of New Zealand)