facebook
twitter
rss
account
search
search
 

Canada unveils new polymer $20 bill

May 2, 2012 at 2:56 PM   |   Comments

OTTAWA, May 2 (UPI) -- The Bank of Canada Wednesday unveiled the design of a new high-tech polymer $20 bill, the most counterfeited bill in circulation.

The display of the new bill in Ottawa follows the release of similar $100 bills that went into circulation in November and $50 bills introduced in March.

Minister of Finance Jim Flaherty and Bank Governor Mark Carney said apart from features much more difficult to reproduce, the bills are cheaper to produce than paper-cloth bills and will last at least twice as long.

The bills feature such security measures as transparent windows, invisible numbers and metallic portraits, the bank said in a release.

The bank said $20 bills account for more than 50 percent of all bills in circulation.

The new notes will begin circulating in November and the remaining $10 and $5 denominations will be replaced with polymer versions by the end of 2013, the release said.

Canada uses coins for $1 and $2 denominations and is scheduled to stop producing pennies later this year.

Topics: Jim Flaherty
© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Destroyers with ballistic missile defense capability heading to Japan Destroyers with ballistic missile defense capability heading to Japan
2
American fighting with Kurds in Syria: Civilians burned in chemical attack American fighting with Kurds in Syria: Civilians burned in chemical attack
3
Woman allegedly sets roommate on fire for throwing out pasta Woman allegedly sets roommate on fire for throwing out pasta
4
GOP Rep. Don Young tussles with students over same-sex marriage and suicide GOP Rep. Don Young tussles with students over same-sex marriage and suicide
5
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
Trending News
Around the Web
x
Feedback