Mauritius to introduce polymer notes
10 12, 2008 15:05 Category: Africa
According to an African Press Agency report dated 10 December 2008, the Bank of Mauritius plans to introduce polymer banknotes as a cost-cutting measure. The press release from the bank in Port Louis indicates that even though it costs US$0.50 to manufacture a polymer note versus US$0.05 for a paper note, the polymer notes have a lifespan of 20 to 25 years, which makes them more cost-effective in the long term. The Bank of Mauritius will invite tenders for the manufacture of polymer 25-, 50-, and 100-rupee notes in early 2009.
Please note that the above information is based upon the APA report. I have not been able to locate the bank press release which the report cites, and strongly suspect the report is in error. Polymer banknotes certainly do last longer than paper notes, but a 20-25 year lifespan is unheard of (polymer notes haven’t even been around that long). According to Securency, the Australian supplier of polymer substrate, polymer notes can last up to four times longer than paper, which can start to wear out in as little as one year of circulation.
Please note that the above information is based upon the APA report. I have not been able to locate the bank press release which the report cites, and strongly suspect the report is in error. Polymer banknotes certainly do last longer than paper notes, but a 20-25 year lifespan is unheard of (polymer notes haven’t even been around that long). According to Securency, the Australian supplier of polymer substrate, polymer notes can last up to four times longer than paper, which can start to wear out in as little as one year of circulation.
