Yahoo Finance Australia's new $10 note to take on counterfeiters
Australia's new $10 banknote has been revealed and is set to take on the rising sophistication in counterfeit technology.
The new note, which will come into circulation in September, has similar features to the new five dollar banknote that was released last year.
It will include a top-to-bottom clear window with a rolling colour effect that is thought to make counterfeiting more difficult.
“The rationale for introducing new banknotes is that we want to make sure that counterfeiting rates in Australia remain low,” Reserve Bank of Australia governor Philip Lowe stated.
“Our current banknotes have stood the test of time, but as technology has improved so have counterfeiting capabilities, and there has been some increase in counterfeiting.”
The note also has a tactile feature to help the vision impaired.
“The $10 banknote celebrates two famous Australian writers, Dame Mary Gilmore and AB ‘Banjo’ Paterson
“Their work is recognised in several design elements on the banknote, including images of a pen nib in two of the clear windows and excerpts of their poetry in microprint.”
Further banknotes in the new series will follow the new trend with all set to feature a different species of native Australian wattle and bird.
