On issuing a new 500-Lats bank
note
Bank of
Latvia
Press release
16.01.09
On 19 January 2009, the Bank of Latvia releases into circulation a new issue of
500-lats banknotes incorporating security features already used in the banknotes
of other denominations. When necessary, the Bank of Latvia replenishes the stock
of banknotes and coins, enhancing security of the banknotes at the same time.
All banknotes issued by the Bank of Latvia have the status of legal tender in
the Republic of Latvia.
What are the distinctive features of the new banknote?
First, the new banknote is even better protected against counterfeiting. Similar
to other banknotes of recent issues, the metallic clear text window thread is
wider and contains the inscriptions "Ls 500", which become visible when the
banknote is viewed against the light, and the holograms "Ls". A transparent
window and thermal effect, the security features used in the 100-lats banknote
of 2007, are incorporated. The transparent window features three stars in a
semicircle on a light background and the lettering "Ls" in four displaced lines
on a dark background. The inscription "500" in the left bottom corner on the
obverse of the new 500-lats banknote acquires a different shade under the impact
of heat. Second, the year of printing of the new banknote is 2008. It bears the
facsimile signature of Ilmars Rimsevics, Governor of the Bank of Latvia.
What are major security features of lats banknotes?
The security features are similar in all banknotes:
- a watermark with the portrait of a Latvian folk-maid in profile;
- a metallic clear text window thread across the full width of the banknote,
which becomes visible when the banknote is viewed against the light;
- a latent image - the denomination incorporated in the ornamental band composed
of the motif of Lielvarde belt, which is visible when the banknote is viewed at
an angle against the light.
Other
security features visible without any special auxiliary device, e.g. those
incorporated in the new 500-lats banknote and other banknotes, are used. Further
information is available on the Bank of Latvia web site under "Latvian Money".
Shall the existing banknotes be exchanged for the new ones?
In the future, 500-lats banknotes issued in 1992 and 2008 will be in
circulation. All banknotes remain legal tender in the Republic of Latvia. The
Bank of Latvia will continue to withdraw from circulation and destroy those
banknotes that are damaged or of deteriorating quality. It is not necessary to
exchange the old banknotes for the new ones.
Where are the new 500-lats banknotes printed?
The new 500-lats banknotes are printed by the same company that printed the
previous Latvian paper money, i.e. Giesecke&Devrient in Germany.
Are any other new banknotes or banknote design changes to be expected?
New security features will be introduced also in the future, yet substantial
changes in the banknote design are not to be expected.
