Keep your eyes peeled – Australia’s new $20 note, affectionately known by many as “the watermelon”, is about to be released into general circulation.
The new design of the revamped $20 banknote was released in February this year, as part of a progressive refresh of all of Australia’s banknotes.
On Friday (9 August), the Reserve Bank of Australia (RBA) gave a two-month notice of the impending release of the new banknotes, which will enter circulation from Wednesday, 9 October 2019.
“While they will soon be shipped around the country in time for release, as with any new banknote, it will take time for them to be widely available,” the RBA said.
The central bank noted that the new note is “a big logistical exercise”, with more than $170 million of $20 notes currently in circulation.
“The Reserve Bank has been working closely with manufacturers and businesses that use cash-handling machines to help them prepare for the new banknotes,” it said.
The new $20 note features the images of two Australians attached to enterprise and ingenuity, the RBA said: one is Mary Reibey, a former convict who went on to become a successful businesswoman, the other is Reverend John Flynn who pioneered the iconic Royal Flying Doctor Service.
Like the new $5, $10 and $50 notes released before it, the revamped $20 note features new security measures aimed at thwarting counterfeits, including the full-length “window” strip and the rolling colour effect.
The last of the banknotes to be given a refresh – the $100 note – is due for release in 2020.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.
Marketers need to reclaim the art of explaining value
By James Lawrence
ATO’s 37% tax on Christmas festivities
By George Morice
Performance anxiety not just a bedroom thing
By Dr Louise Mahler