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New Zealand: modified 5- and 10-Dollars notes

The Reserve Bank of New Zealand launched modified 5- and 10-Dollars banknotes on September 1, 2015. New banknotes have more security features.

 

Massey University banking expert Claire Matthews said it's been a few years since the last redesign, and the key reason for the changes are increased security.

 

"Technology has advanced which means that those that are not so well intentioned have used that technology for fraudulent purposes so the Reserve Bank is looking to keep up with them."

 

Ms Matthews said counterfeiting is relatively rare in New Zealand, and upgrading our banknotes with new security features is about keeping it that way.

 

"The reality is that if you don't keep up with the technology then that's opening the currency up to potential counterfeitings."

 

Claire Matthews says the content in terms of people, birds and plants will be the same, they will just look a bit brighter and more colourful.