Central bank upgrades currency

The South African Reserve Bank is adding enhanced security features, a splash more colour and some new animals and plants to the country's currency in the first major upgrade to its banknotes and coins in more than a decade. A Fin24 report notes that changes include the addition of pictures depicting ‘Big Five’ family scenes, as well as new animals and plants. The changes, announced yesterday, were in line with international best practice, where generally it is recommended that countries upgrade banknotes and coins regularly to fight against counterfeit notes. The SARB said SA had one of the lowest counterfeit rates in the world, with only an estimated three fake notes for every m i l l i o n banknotes produced. And while there will be some noticeable differences to the upgraded currency, which will start being circulated last week, former President Nelson Mandela and Africa's Big Five will still adorn the notes. There will also be no changes to any of the denominations or size of the banknotes. As far as its banknotes are concerned, some of the biggest changes include the addition of the preamble to the Constitution, as well the inclusion in miniature of the South African flag in their centre threads.