Bank of Canada to Start Circulating New Polymer Bank Note Series from November, 2011

The Bank of Canada provides updated information on the new polymer bank note series including technical, background and circulation details. The circulation of the new $100 bank notes made from polymer materials will start on November, 2011.

The bank will soon release additional information such as denomination designs, themes and security characteristics. The bank has also planned to introduce $5, $10 and $20 denominations in 2013.

Security has been the major factor for introducing the innovative polymer note series. Security features of the notes enable easier verification by the bank. They have less impact on environment and are highly economical. The bank analyzed the security features and application of polymer material in the bank notes. The bank expects life time of these notes to be 2.5 times longer compared to the cotton-paper bills.

The bank works with the bank note equipment manufacturers and financial organizations for creating the new notes. The Bank of Canada’s Governor, Mark Carney says that Canadians will receive a high-quality, durable and safe form of payment with the launch of a new polymer note series.