SEE: SARB introduces new SA banknotes, coins
There are new Randela's and coins that are going to be phased.
The South African Reserve Bank (SARB) on Wednesday officially unveiled the country's new banknotes and coins that are going to be available from Thursday.
The new banknotes and coins are said to have updated security features and patterns, "however, the broad themes for the upgraded banknotes remain the same as the current banknotes, while the theme for the coin is deep ecology," the reserve said in a statement.
"The banknotes continue to pay tribute to South Africa's first democratically elected president, Nelson Mandela, with his portrait retained on the front of the banknotes while the Big 5 animals are now illustrated as a family on the back."
"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."
SARB says the purpose of updating the bank notes and coins is to curb counterfeiting. It says notes should be updated every six to eight years, while coins need to be updated every 20 to 30 years. It also said the current banknotes and coins in the market are still good for trade.
"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."
[Watch] The SA Reserve Bank has upgraded the security features of our banknotes in line with international best practice. Added to former president Nelson Mandela’s portrait is the preamble to our Constitution and the SA flag, while the Big 5 animals are depicted as a… pic.twitter.com/VDdUtXHz8k
— SA Reserve Bank (@SAReserveBank) May 3, 2023
