Bank of Guyana to roll out new $1000 bill

The Bank of Guyana will release an upgraded version of the 1000-dollar note next Monday with new security features to deter counterfeit.

The one-thousand-dollar note was first introduced to the public in 1996; four versions have since been printed.

The last batch of the note was printed in 2011, according to Joseph Lall, Banking Manager at the Bank of Guyana.

The banknote will no longer have the holographic stripe displayed on the front, but will instead feature Crane Currency’s RAPID® micro-optic security thread.

“This feature is called rapid which has a lot of movement…and with a slight tilt of the banknote you can see movement so it’s easy to know whether the note is genuine or not.

“This is not a feature that can easily be counterfeited, it would be very difficult for someone to do this.”

“The note has retained the features of the previous note it has the watermark. If you hold it up to the light you will see the Macaw and 1000. If you feel it, you will feel the Intaglio print which is raised off the paper it is not flat.”

Joseph said even though this new note is being introduced, the old ones will still remain legal tender.

“All the notes remain legal tender.”

“A note remains legal tender until its demonetized. Generally, we [Bank of Guyana] do not demonetize currency.”

The Bank of Guyana is reminding the public that counterfeiting of bills is a serious criminal offence.

The possession of a counterfeit note carries a maximum sentence of 14 years in jail while the production of counterfeit notes carries a life sentence.

To learn more about the new note, visit the Bank of Guyana website on www.bankofguyana.org.gy