Brighter notes and a new coin series are here as South Africa’s money gets a makeover. And, in a wholesome move, the Big 5 are now showcased with their families while the coins honour nature. Take a look:
South Africa (4 May, 2023)— Though many South Africans might have preferred lower interest rates, South Africa’s money got a makeover instead; and many elements of the new look and feel are pretty wholesome.
The South African Reserve Bank (SARB) has introduced upgraded banknotes and a new coin series for South Africa set to be available from today.
Both the upgraded notes and the coins have themes; with the notes honouring Madiba on the front and the Big 5 on the back.
This update round though, the Big 5 animals get to sit on the notes with their families, unlike the notes that came before.
As for the coin series, its them is deep ecology, a nod to South Africa’s relationship with nature.
“The theme of the coin series is deep ecology, which acknowledges the interconnectedness of living organisms as an integral part of the environment. These themes are depicted by our fauna and flora on the coin.—The SARB.
According to the South African Reserve Bank, the new money batch also has enhanced security features.
And, if you’re wondering whether your old notes and coins still count, they do. The SARB shares that: “All previously issued circulation banknotes and coin can be used as a means of trade together with the upgraded banknotes and coin.”
Why does any currency need to get an upgrade? Well, beyond big socio-political transitions, The SARB shares:
“Banknotes and coin are regularly upgraded in line with international best practice to combat counterfeiting and to stay abreast with technological advancements. In general, banknotes are refreshed in intervals of 6 to 8 years and coin in intervals of 20 to 30 years. In South Africa, the current Mandela banknote series was issued in 2012 and a commemorative series of banknotes was issued in 2018. The current coin series was issued in 1989.”
by 