Finance

Here’s everything you need to know about Australia’s new $50 note

Caleb Triscari /

$50 note

Source: Reserve Bank of Australia

The Reserve Bank of Australia has revealed the design of the new Australian $50 note set to be circulated in October this year, following recent makeovers of the $5 and $10 notes.

The bank note will continue to feature Indigenous writer and inventor David Unaipon and the first woman elected to an Australian parliament, Edith Cowan. It will also include a new top-to-bottom clear window and a greater emphasis on Australian wattle flowers.

Alongside the new design, the Reserve Bank of Australia (RBA) says the note will serve to make counterfeiting Australian currency more difficult, with a fourth swan on the bank note only revealed when illuminated with a UV light.

In a statement, RBA Governor Philip Lowe said the design is intended to reduce the number of counterfeit notes entering circulation.

“Improved security and ease of recognition underpin the design of the new $50 banknote. With the release of the $5 and $10 over the past two years, we are confident the Australian public are becoming familiar with the new banknote security features,” he said.

In the lead up to the $50 note’s release, the RBA will be working with retailers and ATM providers to ensure the note will be easily transitioned into circulation.

The new $50 note design follows the recent facelift of the $5 note in 2016 and the $10 note in 2017. The RBA also expects to revamp the look of the $20 next year.

NOW READ: The “black economy” taskforce could axe the $100 note 

Advertisement
Caleb Triscari

Caleb Triscari is SmartCompany's subeditor.

We Recommend

FROM AROUND THE WEB

  • R R

    Not much use upgrading. It will all be Bitcoin and Crypto currency soon.