Country braces itself for new dollar note

via Country braces itself for new dollar note | The Zimbabwean by Clemence Machadu 13.11.13

For Sharon, who trades foreign currencies on the local parallel market, getting hold of a new $100 note is a matter of urgency. Without it, she won’t be able to tell whether notes she’s given are genuine or not. One mistake with a note of this magnitude could lead to huge losses for her.

The newly introduced $100 US Federal Reserve bill has awakened fears of counterfeit, as unscrupulous people capitalise on the lack of awareness about the security features of the new note.

Since the introduction of the $100 note last month, the central bank has done nothing to educate the public about the new note, despite the fact that the US dollar has been legal tender in Zimbabwe since 2009.

There have been numerous cases of fake notes circulating in the country whenever a new foreign bill is introduced, and it is important for business people, retailers and consumers to carefully understand the features of the new bill.

According to the Federal Reserve: “Distance, demand and the policies of individual financial institutions will be the deciding factors in how quickly redesigned $100 notes reach the public, both in the US and international markets.”

The new bill has a design that makes it easier to authenticate but difficult to duplicate. The note has a blue 3D security ribbon with an image of bells and 100s, as well as a colour-changing inkwell. Other features such as the watermark have been returned on the note.

The old and new notes are both legal tender, and there is no need to replace old $100 notes with new ones.

“The best way to determine whether a note is genuine is to use the security features, such as watermark and security thread,” says the Federal Reserve.

 

COMMENTS

WORDPRESS: 6
  • comment-avatar
    Tjingababili 8 years ago

    RUBBISH, DR ZEROOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

  • comment-avatar
    John Nawe 8 years ago

    Gonococcus again, OMG.

  • comment-avatar
    Shebah 8 years ago

    The note is already in circulation there is nothing new about it. However, highlighting the security features should have be part of this reporter’s heading

    • comment-avatar
      Chivulamapoti 8 years ago

      If you say there is nothing new about you more of a fool than I thought you were Shebah!

      Read this – Nov 08 06:50am
      On Tuesday, the federal reserve began circulating its newly designed 100 dollar bill that’s supposed to make counterfeiting the currency nearly impossible.”A lot of it’s around security codes and security printed paper to make it a lot harder for anybody to duplicate the bills” said Georgia Bank and Trust President Dan Blanton. The bill boasts several new high tech features including color changing inks, holographic band, offset picture, unique ‘paper’ and much more…..launched 8 days ago fool!

  • comment-avatar
    Boss MyAss 8 years ago

    Since they have no money, are they going to have these notes on toilette rolls ?

  • comment-avatar
    Kubota Binga 8 years ago

    Yawn, what a sensational headline, followed by a hollow passage!!!