2001-06-13: South African Reserve Bank to Redesign Banknotes
Last Modified Date:
2020-10-08, 08:15 PM
Media > Media Releases
The South African Reserve Bank is designing a new series of banknotes which will be launched in approximately two years.In a society where cash is widely accepted as a means of payment, public confidence in the authenticity of the banknotes is essential. To maintain this confidence, continuing precautions are taken by the SARB to prevent counterfeiting, including the periodic redesign of banknotes to incorporate the latest security features.Certain advances in the security features have been incorporated into banknotes worldwide to prevent counterfeiting. The potential danger of note counterfeiting has increased markedly with changes in printing technology and the sophistication of colour copiers and scanners. While South Africa has a far lesser problem than internationally, the Bank is taking this proactive step to incorporate new security features into a new series of banknotes.The current note series was introduced in 1992. Most countries keep one series of banknotes in circulation for between 7 and 10 years, before changing them.The cost of a new note series will be borne by the SARB.