New EC Dollar Banknotes to Feature Prominent Regional Figures by 2027

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EC DOLLAR

New EC Dollar Banknotes to Feature Prominent Regional Figures by 2027

The Eastern Caribbean dollar (EC$) is set to undergo a significant redesign, with new banknotes featuring dual portraits of notable figures from across the region. This was one of the key announcements made during the 109th Meeting of the Monetary Council of the Eastern Caribbean Central Bank (ECCB), held virtually on October 18, 2024.

The first redesigned banknote, the EC$100, is expected to be in circulation by late 2027. The new design will showcase portraits of two prominent Eastern Caribbean nationals, with similar updates planned for the $5, $10, $20, and $50 denominations as existing stocks are depleted. In total, ten figures from the region will be honored on these redesigned notes.

This initiative is part of the ECCB’s effort to modernize its currency while highlighting the contributions of distinguished individuals from its member states. The redesigned notes aim to celebrate the region’s heritage, culture, and influential figures, further embedding the EC dollar as a symbol of regional pride.

The ECCB has not yet disclosed the names of the individuals who will be featured on the new banknotes, but the selection process is expected to reflect the region’s diverse and rich history.

The ECCB’s move to update its currency is part of broader efforts to modernize the region’s financial system. The Council also discussed initiatives related to financial inclusion, digital currency, and economic sustainability during the meeting, underscoring the bank’s commitment to evolving alongside global economic trends.

The introduction of the redesigned banknotes follows a series of significant developments in the ECCB’s financial policies aimed at supporting the Eastern Caribbean Currency Union’s (ECCU) long-term growth and stability.

As anticipation builds for the new EC dollar designs, the public will see a gradual transition to the updated banknotes, starting with the EC$100 note in 2027. These changes will serve as a reminder of the region’s collective strength and the individuals who have shaped its history.

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9 COMMENTS

  1. Fantastic news!

    Recognising prominent regional Caribbean figures on EC Bank notes is definitely a move in the right direction. Bravo 👏🏾

    I can now stop HIDING the monarch’s face on my money when handing it over to sales staff when doing my shopping 😉

    Hopefully, no more vomiting for me 🤮

    Again, fantastic news …

  2. Fantastic news for the ECCU……..but for UPP not so much. New faces on the bank notes, but no new faces at the helm of UPP.

    CHAOS DEMON, MAN COW, LIPSTICK HAG and the DEAD DARG PICK-UP-CORN CA-CA-CAPA-SEE-TAH LITTLE BLACK BOY say day not stepping down!

  3. This is a good move on the part of the ECCB. Since Sir Arthur Lewis is on the back on the back of the $100, I think it would be a good idea to place him on the front of that note and Derek Walcott on the reverse.

    Some of the people I can think of for this singular honour of having their faces on the notes are: Sir K. Dwight Venner $5 front, Sir Viv Richards $5 reverse, Mary Eugenia Charles $10 front, Phyllis Shand Allfrey $10 reverse, Sir John Compton $20 front, Sir James Mitchell $20 reverse, Sir V.C. Bird $50 front, Sir Kennedy Simmons $50 reverse.

  4. Good move but it’s just a drop of water in the ocean. Doesn’t change the fact that we are still under the British monarch even though we are supposed to be “independent”. Go into court and you hear “God save the King”, GG is still just an avatar for the King, still following British standards even though we don’t get any benefits like having a British passport but go head and print new dollars it will make the world of a difference.

  5. This is a little off topic, but I’m hoping someone could educate me.

    The Eastern Caribbean once had a $1 bank note, then we switched to the coin.

    What was the reason for switching to the coin?

    I’ve always wondered about the switch, especially I think it’s far easier to walk with several $1 bank notes, as opposed to the coin.

    Does it make sense for there to be an effort ro return to the $1 bank note and abandon the $1 coin?

  6. At the end of the day everything has a cost, even the printing of money. With that said it @ Wadadli Man. Made more economic sense to mint the $1.00 coin as opposed to the paper note. Even beyond the initial cost the $1.00 coin is more durable and will have a longer circulation life span.

    Fast track from the point of abandonment to now do you really carry that amount of coins in your pocket or $1.00 dollar note if it were available or you have move with the electronic age. Yes you may say not everyone has a debit card etc but given cost of living it will become unwieldy to move with all those single units.

  7. Any move to increase the value of the EC$ is welcomed. The notes can be used to bring awareness to global warming, cancer, LGBT and bullying. Glow in the dark notes would be a good move as well.

  8. The $1 bill was the most used of all the banknotes. Because of this, they changed hands very quickly and so got damaged at a high rate. The cost to replace the $1 banknotes was more than the value of the banknote itself. Therefore, replacing it with a metal coin made more sense because the coin would not need to be replaced as quickly and this means that it would be more cost effective in the long run.

    Basically, it was cost and utility that caused the switch.

  9. Thanks very much for the input with respect as to why we migrated from the $1 note to the coin.

    All the best everyone

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