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Central Bank Unveils New €50 Note: Released Today

Published on Apr 4 2017 12:04 PM in Retail tagged: Featured Post / Central Bank / European Central Bank

Central Bank Unveils New €50 Note: Released Today

The Central Bank has announced the introduction of a new €50 note, which is to be the fourth new banknote in the ‘Europa’ series. The note will enter circulation across Ireland and the eurozone area from today (April 4).

The note is of the same size as the current €50 note and is similar in appearance to it, but boasts a number of improved security features. Speaking to a roundtable of journalists, director of Currency and Corporate Service Paul Molumby explained the significance of the note’s “look, feel and tilt”.

In the note’s top right corner is a ‘window’ that should allow light to pass through, revealing an image of the goddess Europa.

Along the sides of the note are raised ridges, creating a tactile mark on the surface.

Thirdly, the note contains a holographic tilt. “If you tilt the note,” Molumby explains, “either the roll of the emerald-green in the number in the bottom left-hand corner, and also on the silver foil as you roll it, you’ll see the image in the window change.”

These security features are what are known as “level one”. There are further “level two” identifying features which professional cash handlers will be informed of, as well as “level three” differences which only the Central Bank will have knowledge of.

The new notes are being introduced primarily to render them more resistant to counterfeiting. The €50 is the most widely-used banknote denomination in the euro area, accounting for 46% of all banknotes in usage.

The banknotes of the previous series will remain legal tender and continue to circulate alongside the new notes until it is gradually withdrawn from circulation.

The European Central Bank also plans to issue new €100 and €200 at the beginning of 2019.

© 2017 - Checkout Magazine by Donncha Mac Cóil

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