The banknotes of the Eastern Caribbean Dollar will be getting a new look, changing from cotton to more durable polymer fabric, after the members of the Eastern Caribbean Currency Union ((ECCU) Monetary Council Meeting in St. Kitts approved a change in material.

The Council, which is made up of finance ministers of ECCU member states is currently Chaired by Prime Minister of Dominica Roosevelt Skerritt and made the disclosure at a press briefing following the 90th meeting of the council last week.

Skerritt disclosed that the current cotton bank notes will be replaced by notes made from polymer. “Council received the report which outlined the case for changing the substrate of the ECCB banknotes from cotton to polymer.

“The Council noted the advantages of the polymer substrate over that of cotton which included, higher durability and more advanced security features. Furthermore, polymer is the new standard that is widely implemented around the world. After careful consideration, Council approved the change in the substrate of the ECCB Banknotes from cotton to polymer, Skerritt stated.

He added that the Monetary Council also endorsed a public education campaign that will be rolled out by the (Eastern Caribbean Central Bank) ECCB on this new initiative.

Skerritt also spoke of the advantages of having the new material for the notes. “It is something I think the entire union should welcome, it is a step in the right direction because many of us know the current currency is easy to tear.”

He continued, “This new material that will be used this will not happen and so your money will be of greater value to you.”

ECCB Governor Timothy Antoine explained that the alterations could take more than a year and will be ready sometime in 2019.

He said,“The bank notes will take some time, so following the decision today we have to engage the potential printers for a sort of proposal which we have to evaluate and decide.

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Antoine assured that the new bills will be ecstatically pleasing and the public will be proud of.He also stated that there will be a public education exercise ahead of the implementation.

“During that period while the notes will be on the way we have to commence the public education to let the public understand what the new notes will look like, what they are to expect.”

“From the time we actually make a decision about who will print those new notes it takes about a year to actually produce the new notes. Remember you have to design, put in all the security features and those are intricate processes and they have to do it well,” Antoine explained.

He claims the new bills will be ecstatically pleasing and something of which the public will be proud..He also stated that there will be a public education exercise ahead of the implementation.

“During that period while the notes will be on the way we have to commence the public education to let the public understand what the new notes will look like, what they are to expect.”