New Bills, Big Buzz: Belizeans React to Fresh Banknote Rollout

It’s been months in the making and today, it finally happened. Belize’s brand-new banknotes officially hit the streets this morning, and you could feel the excitement in the air. From the bold new design to the upgraded security features, everyone’s curious to see what’s changed. News Five was out and about, putting the new currency to the test. We stopped by a grocery store, made a quick ATM run, and spoke with folks on the ground to hear their first impressions. Plus, we checked in with the Central Bank of Belize to find out what the public should know as these notes begin circulating. Paul Lopez has a full story and here’s that report.

 

Paul Lopez, Reporting

Belize’s newly designed banknotes are officially in circulation. Vendors are already accepting them, banks are handing them out, and the public is weighing in with their first impressions. From the look and feel to the added security features, these new notes are getting people talking. And as Belizeans start using them in everyday transactions, the buzz is only growing.

 

Belize City Resident

“Fih me dah just ordinary money, so it does not matter to me. Anyway yo tek it, we still have to use it so, I just have to accept it.”

 

Belize City Resident

“I nuh accept it as yet, because I really feel like I use to my old currency, my old Queen Elizabeth, so I don’t know what it will feel like to hold one, because it look like counterfeit.”

 

Belize City Resident

“I don’t like it, I believe they should have gotten the opinion of the public before they do this.”

 

Belize City Resident

“The changes in the past came as just a change, a small change, but now as I get older, I appreciate the changes more. I see the transition coming from way back to where we are now. I wish I could see a next change, but I don’t think I will make that.”

And guess what? We put the new fifty-dollar banknote to the test during a quick grocery run in Belize City, and it worked like a charm. No issues, no confusion, just a smooth transaction at the checkout.

 

Paul Lopez

“You accept this?”

 

Belize City Grocer

“Yeah.”

 

The cashier didn’t miss a beat, she was fully aware of the new banknotes and knew exactly what to look for to confirm they were the real deal. The grocer provided change in the old banknotes, but the value remains the same.

 

Paul Lopez

“So there was no problem there spending that, four-fifty, and of course we get back this in change, but the information is around, the knowledge is there.”

 

And while the ATM machines at one financial institution were dispensing the new banknotes, another financial institution was not quite prepared to do so just yet.

 

Paul Lopez

“Alright the money is coming this is the new currency, oh this is the new currency, the new banknotes. What happened here? Do I have another amount to take out? Let’s perform another truncation. Let’s try it again, don’t fail me this time. So, we won’t try anymore. We have to accept what we get this time around. But the good thing is, same value.”

 

Delroy Rhaburn, Central Bank of Belize

“The currency is made of a cotton substrate. So, it’s the exact same material we have right now. There was a lot of speculation where people felt it will be something like the Mexican currency, which is polymer, a plastic-based material. But ours is still cotton, so it’s the same feel, same size and the same color scheme as the notes we have right now. So the fifty and hundred also have the holographic thread, but if you look at it compared to the ten it is a wider stripe. But as an added feature, at the back has a wider thread which gives it that protection and the thread is also in line with the theme of the note. On all the notes we have our tactile marks for the visually impaired. It’s the line at the side here, people not able to see the note can feel it and tell what the denomination is. So if you notice, with the two dollars it starts with one line and goes up as the denomination goes up, so one, two, three, four, five, six.”

 

And these are only a few of the security features being introduced on the new notes. Each has enhanced watermarks, holographic stripes, color-shifting security threads and the blind recognition marks.

 

Paul Lopez

“Let’s look at some of the similarities. Some of the colors appear to be the same on both. The dimensions appear to be exactly the same size, they both have fifty dollars on them in number and words. But outside of that things change drastically.”

 

Delroy Rhaburn

“Both currencies remain valid legal tender. This is the version you will see at ATMs, the version given to you at banks, but the previous version still remains valid legal tender and should be accepted. It will phase out gradually. Starting today, all banks and credit unions will only be issuing this new version of the currency, so as people deposit the previous version, it will be removed from circulation and sent back to the Central Bank and we wont put those back into circulation.”

 

While Belize’s new banknotes are already in circulation, the coins haven’t changed, at least not yet. The Central Bank of Belize says the current coin designs are staying put for now, but they’re actively exploring ways to refresh and enhance their look too. So, don’t be surprised if your change starts looking a little different in the future. Reporting for News Five, I am Paul Lopez.