Senior Multimedia Reporter
geisha.kowlessar@guardian.co.tt
Economist Dr Vaalmikki Arjoon says the Central Bank’s decision to update the $100 banknote reflects a commitment to ensuring the reliability of the currency.
His comments came in wake of the bank announcing over the weekend that the newly designed $100 bill, which will be in circulation from September, will feature the steelpan instead of the three ships of Christopher Columbus.
Arjoon said the integrity of the currency is vital for economic stability.
“When consumers trust that their money is genuine and challenging to counterfeit, they are more likely to engage in everyday transactions, thereby supporting economic activity. This confidence is essential for an economy to thrive, where both consumers and businesses feel secure in their financial transactions,” he explained.
He further noted that introducing new banknotes with advanced security features is a standard practice among central banks, particularly to combat counterfeiting.
“As technology evolves, counterfeiters gain access to increasingly sophisticated printing techniques. By incorporating enhanced security elements—such as larger security strips and holographic features—the difficulty of replicating banknotes is significantly increased. These measures are crucial for preventing financial losses due to counterfeiting and ensuring that the currency maintains its value,” Arjoon explained.
Moving forward, he added it is vital for the Central Bank to implement a campaign that highlights the security features of the new notes, adding this will ensure consumers and businesses are aware of these features and are better equipped to protect themselves against counterfeiting.
On January 13, 2025, Parliament approved the National Emblems of Trinidad and Tobago (Regulation) (Amendment) Bill, 2025, to give legal effect for the change of the Coat of Arms.
The adjusted Coat of Arms has been integrated into the $100 banknote (2025 series).
As outlined in the bank’s September 2024 Strategic Plan Update, the production of the 2025 series was modified to integrate the change.
The Central Bank said this note will be very similar to the current $100 note (2019 series) with a few new security features, noting that the 2025 series is now scheduled for public distribution by September.
Other changes compared to the 2019 series involve a larger security strip incorporating recent banknote technology with, among other things, the Bird of Paradise in iridescent ink in a larger see-through ‘window’ with holographic elements, the bank said.
The new $100 polymer bill was supposed to be introduced in December last year. However, this was postponed to this year because of the announcement of the Coat of Arms redesign.
The current $100 bill was issued in December 2019 and was the first in the suite of polymer banknotes.
