Polymer banknote

[1] Polymer banknotes last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement.

[2] Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne.

Several countries and regions have now introduced polymer banknotes into commemorative or general circulation, including: Nigeria, Cape Verde, Chile, The Gambia, Trinidad and Tobago, Vietnam, Mexico, Taiwan, Singapore, Malaysia, Botswana, São Tomé and Príncipe, North Macedonia, Russia, Solomon Islands, Samoa, Morocco, Albania, Sri Lanka, Hong Kong, Israel, China, Kuwait, Mozambique, Saudi Arabia, Isle of Man, Guatemala, Haiti, Jamaica, Libya, Mauritius, Costa Rica, Honduras, Angola, Namibia, Lebanon, the Philippines, Egypt, the United Arab Emirates, Samoa, and Bermuda.

Primary security devices are easily recognisable by consumers and may include intaglio, metal strips, and the clear areas of the banknote.

[14][15] Some businesses operating in the UK cash industry have opposed the switch to polymer, citing a lack of research into the cost impact of its introduction.

[16] In December 2022, following the death of Queen Elizabeth II, the Bank of England unveiled the design of a new series of banknotes featuring King Charles III.

In April 2022, The Bangko Sentral ng Pilipinas officially released the 1000 peso bill polymer bank note into circulation.