Polymer $100 notes out today

RBNZ

26.07.99

Polymer $100 bank notes are being released into circulation from today.

The $100 note is the second denomination to be released in polymer by the Reserve Bank. The first polymer bank note to be released in New Zealand was the $20 note, which has been in circulation since early May this year.

Other denominations will be issued in polymer during the remainder of 1999 and into the beginning of 2000. The next polymer notes to be issued will be the $5 and $10 notes in mid-October. The Reserve Bank expects to release polymer $50 bank notes early next year.

Reserve Bank Currency Department Chief Manager Brian Lang said today: "Polymer $100 notes are legal tender as of this morning.

"Like the polymer $20 note, the size and essential design of the $100 notes has not changed. Probably the only things people will notice, apart from the distinctive plastic feel, are that the colours are brighter and the font is more modern.

"The $100 notes have transparent windows like the $20 note, which make them very difficult to forge. The `notches' in the $100 note's transparent oval window make it even more of a chore for potential counterfeiters.

"People need not worry about exchanging their paper bank notes, as the paper ones will remain legal tender for the foreseeable future alongside polymer," Mr Lang concluded.

For further information contact:

Lisa Weekes

Communications Officer

Phone 04 471 3767, pager 026 103 787

Email weekesl@rbnz.govt.nz