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Next Generation of Banknotes: Circulation Date for the New $20 Banknote

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Next Generation of Banknotes: Circulation Date for the New Banknote Governor Philip Lowe today announced the new banknote will be released into general circulation on 9 October 2019. While they will soon be shipped around the country in time for release, as with any new banknote it will take time for them to be widely available. Existing banknotes can continue to be used, as all previously issued banknotes remain legal tender. The Governor noted in his statement to the House of Representatives Standing Committee on Economics that the release is a big logistical exercise, with more than 170 million banknotes in circulation. The Reserve Bank has been

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Next Generation of Banknotes: Circulation Date for the New $20 Banknote

Governor Philip Lowe today announced the new $20 banknote will be released into general circulation on 9 October 2019. While they will soon be shipped around the country in time for release, as with any new banknote it will take time for them to be widely available. Existing $20 banknotes can continue to be used, as all previously issued banknotes remain legal tender.

The Governor noted in his statement to the House of Representatives Standing Committee on Economics that the release is a big logistical exercise, with more than 170 million $20 banknotes in circulation. The Reserve Bank has been working closely with manufacturers and businesses that use cash-handling machines to help them prepare for the new banknotes.

The new $20 banknote features portraits of two Australians known for their enterprise and ingenuity. Mary Reibey was a convict who became a successful businesswoman, and Reverend John Flynn pioneered the Royal Flying Doctor Service. The banknote also includes new security features, such as a rolling colour effect and a top to bottom window included on the new $5, $10 and $50 banknotes issued over the past three years as part of the upgrade of Australia's banknotes. 

It is expected that the $100 banknote will be released next year.

Full details of the design and security features on the new $20 banknote, and other denominations, are available on the Bank's website at banknotes.rba.gov.au.

Reserve Bank Australia
The Reserve Bank of Australia (RBA) came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank. The bank has the responsibility of providing services to the Government of Australia in addition to also providing services to other central banks and official institutions. It currently consists of the Payments System Board, which governs the payments system policy of the bank, and the Reserve Bank Board, which governs all other monetary and banking policies of the bank.

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