Press Release No. : 30/2015
Date : 05 October 2015
The Reserve Bank of Fiji (RBF) has recently been receiving a fair volume of mutilated $5 polymer notes from customers. These notes are generally torn and burnt leading to their premature destruction.
The Governor of the Reserve Bank of Fiji, Mr Barry Whiteside said, “the new $5 polymer notes are made from different material when compared to paper notes and require special care when handling and storing”. The polymer notes must not be folded severely and must also not be stapled or cut in any way.
While the polymer notes are extremely tough and do not tear apart under normal usage, any holes and cuts on the notes cause them to easily tear apart. The RBF has noted that one of the primary causes of torn notes is the practice of stapling which should be avoided.
Mr Whiteside also said that “the new $5 polymer notes react poorly to extreme heat, which could cause them to melt and shrink. Common causes are noted to be ironing, house fires and exposure to flame”.
The RBF is therefore urging the general public to take due care of the new $5 polymer notes as well as other notes to enhance durability and save costs for the nation. The new $5 polymer notes have added durability advantages under normal wear and tear conditions which can significantly increase the life of these notes whilst in circulation, hence saving costs.