Interesting facts about polymer bank notes / plastic currency notes

Interesting facts about polymer bank notes / plastic currency notes : Indian Government gave nod to print plastic currency notes and announced initiation of procurement of material. Reserve Bank of India has been planning to launch plastic notes after field trails. Here are some interesting facts related to plastic currency notes , you must read.

  • Polymer Banknotes are also known as Polymer money, plastic banknotes, and plastic money.
  • Polymer Banknotes are made from a polymer such as biaxially oriented polyproplylene (BOPP).
  • Polymer Banknotes incorporates many security features that are not available in paper notes, including the use of metameric inks.
    Interesting facts about polymer bank currency notes
    Interesting facts about polymer bank currency notes
  • Because of such security features, plastic currency notes are difficult to imitate.
  • Modern Polymer banknotes were first developed by Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne.
  • The first polymer banknote was the Australian ten-dollar note released in 1988, which originally featured an indigenous Australian on one side, and European settlers and a ship on the other, and was issued to commemorate the bicentenary of European settlement in Australia
  • Talking about security features, polymer banknotes will often include watermarks, embossing and micro printing among other printing methods, various threads, including magnetic, that are embedded in the note; transparent plastic windows containing an optical variable device (OVD) – an iridescent or holographic image; and other measures, many of which were once unique to polymer money.
  • Traditionally, polymer banknotes are made by inking a plastic film with white, usually leaving a small transparent shape, cutting the film into sheets and printing on them with a variety of inks using diverse range of techniques over multiple processes, and then are varnished and cut.
  • In 2014, only 22 countries were using polymer banknotes, while only a few countries had full sets in circulation, and these included Australia, New Zealand, Canada, Vietnam, Romania, Papua New Guinea and Brunei.
  • Polymer banknotes are harder to tear, more resistant to folding, more resistant to soil, waterproof, harder to turn, easier to machine process and are shreddable and recyclable at the end of their lives.
  • One of the primary issues against introducing polymer banknotes into many countries is its cost for initial introduction, as well as higher production costs, which in 2011, for Canadian notes was 19 cents per banknote, slightly more than double the cost of paper notes.

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