Currency Design Review Exercise Overview
The Reserve Bank of Fiji (RBF) has the sole right in Fiji to issue and redeem currency banknotes and coins under the provisions of the RBF Act, however, decisions on the various denominations, banknote substrate, metallic composition for coins and designs are approved by the Minister for Finance. The Reserve Bank will usually undertake a currency design review exercise once every ten years although the timing could differ depending on necessity.
In the initial stages of designing a new currency series, the RBF will establish a Currency Design Committee comprising Fijians from the public and private sectors chosen for their respective expertise in various fields which would be critical during the selection process. In the most recent flora and fauna series the Design Committee included members well versed in Fijian history and culture, national heritage and our flora and fauna. In fact in all of the previous reviews of Fiji’s currency over the past three decades, a currency committee has been formed with members from the general public. Once agreement is reached on the likely designs for each banknote and coin denomination these are then conveyed to the design artists at our selected Banknote Printer and Coin Mint. The designs are drawn up and require final approval of the RBF Board before seeking the Minister’s final approval.