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EC$5 Polymer Note (Photo: ECCB)

ECCB prepares to release EC$5 Polymer

EC$5 Polymer Note (Photo: ECCB)

The Eastern Caribbean Central Bank (ECCB) projects that it will release the polymer five-dollar note by the end of March.

The bank had delayed the release of the note, initially scheduled for September 2020, because of reduced demand for it.

According to Acting Director of the Currency Management Department Rosbert Humphrey, although EC$5 notes are in circulation more than any other denomination, it is the least demanded note.

The Eastern Caribbean Central Bank in Basseterre, St Kitts-Nevis (File photo)

Given that commercial banks in each country have a different level of stock of the note, Humphrey explained that the polymer EC$5 notes may not be issued in all of the ECCB member countries at the same time.

The ECCB launched its family of EC polymer notes in May 2019 starting with the $50. Afterward it issued the EC$100, EC$20 and EC$10.

Humphrey has encouraged the public to continue to take care of the EC polymer banknotes and advised against creasing, crumpling and applying heat, as these actions can compromise the features of the polymer banknotes.

β€œIt’s your money, take care of it,” he said.