Johannesburg – The South African Reserve Bank (SARB) on Thursday, (4 May 2023, introduced upgraded banknotes and coins into the South African market.
The SARB said the denominations will be introduced incrementally.
“The upgraded banknotes and coin have enhanced security features and new designs; however, the broad themes for the upgraded banknotes remain the same as the current banknotes, while the theme for the coin is deep ecology,” said the SARB.
The banknotes continue to pay tribute to South Africa’s first democratically elected president, Nelson Mandela, with his portrait retained on the front of the banknotes while the Big 5 animals are now illustrated as a family on the back.
“We also celebrate our constitutional democracy with the preamble to the South African Constitution printed in microtext around Madiba’s portrait and the country’s flag featured on the front and the back of the banknotes,” said the SARB.
“The theme of the coin series is deep ecology, which acknowledges the interconnectedness of living organisms as an integral part of the environment.
“These themes are depicted by our fauna and flora on the coin. Banknotes and coins are regularly upgraded in line with international best practice to combat counterfeiting and to stay abreast with technological advancements.”
The SARB said, in general, banknotes are refreshed in intervals of six to eight years and coins in intervals of 20 to 30 years.
In South Africa, the current Mandela banknote series was issued in 2012 and a commemorative series of banknotes was issued in 2018.
The current coin series was issued in 1989.
The SARB said it does not demonetise its currency.
“All previously issued circulation banknotes and coins can be used as a means of trade together with the upgraded banknotes and coins. All circulation currency maintains its face value,” said the SARB.
“Members of the public are encouraged to familiarise themselves with the upgraded banknotes and coin and to use the look, feel, and tilt method to authenticate their currency.
“Changes to the upgraded banknotes and coin are available on the SARB website and the SARB Currency App which is available on the Apple iStore and the Google Play Store.”
