New $5,000 note goes into circulation today

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New dollar[www.inewsguyana.com]The contentious new $5,000 note is expected to be in circulation today, Monday December 9. Since the launch of the new bill on November 15, there has been much debate on whether it will decrease the value of Guyana’s currency.

However, Guyanese were assured that this will not be the case, as the new note is only in keeping with the currency reform process.

Deputy Governor of the Bank of Guyana Dr. Gobin Ganga had said that this new note is expected to significantly improve the efficacy of the payment system; a move that has garnered the support of the Guyana Association of Bankers.

He said the ultimate idea is to move in a direction of non-cash, but expressed the belief that it will not occur anytime in the near future for reasons he went onto list.

The note has several security features. According to Dr. Gobin, the time between the launch and when the bill is circulated (December 9) will be used to familiarize the public.

The face side of the note carries a map of Guyana with its natural resources, while the reverse side portrays the National Bird and the Rainforest. The note measures 156mm x 65mm, bearing much similarities to already existing notes. The note is the only one in circulation locally that carries a blind mark for the visually impaired and partially sighted.

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