Trinidad and Tobago introduced its new $100 polymer note into circulation today, December 10, a move expected to stem the spread of counterfeiting and other crimes.
The note, which has increased protections which make forgeries more difficult, will be circulated to commercial banks today, according to the Central Bank of Trinidad and Tobago (CBTT) . The note will be made available to the public tomorrow, December 11. The existing TT$100 bill will continue to be accepted as legal tender until the end of the year, said Governor of the CBTT, Dr Alvin Hilaire at a press conference yesterday.
Dr Hilaire said the introduction is expected to cause some disruption over the immediacy as it is new to people but said this will pass in time.
“We do believe it will not be permanent. It will dissipate over time and in fact things might be actually better over time…to the sense that the national security objects are satisfied,” Hilaire said in a report carried by the CMC yesterday, adding “also what we are trying to do is to move towards a more cashless society and perhaps this as people deposit their funds they will be able to move to that scenario.”
The CBTT last week said this polymer bill is the first in a series to come in the New Year, as it moves to change out others to include new security features.
The change is part of the Bank’s strategic plan to improve the durability of notes, increase protections against counterfeits and provide for easy recognition by the visually impaired, stated its website.
The new features include an ‘X’ on bottom corner of the each of the note’s sides, which can be felt by hand, a clear window at the top left corner of the note which can be seen from both sides, a visible “100” in blue print on the front and shimmering gold ink on both sides.