Next Generation Banknotes: $100 Enters General Circulation
The new $100 banknote entered general circulation on 29 th October. It is the final denomination to be redesigned as part of the Reserve Bank's Next Generation Banknote Program. Governor Philip Lowe said, ‘The release of the new $100 marks the completion of the decade-long program to upgrade the security of our banknotes. As a result, Australia continues to have some of the best and most secure banknotes in the world. We also continue to celebrate the outstanding contributions of two well-known Australians, Sir John Monash and Dame Nellie Melba, on the new $100.’ Sir John Monash was an engineer, soldier and civic leader recognised for his influence in the building-construction industry and service as a commander in the First World War. Dame Nellie Melba was an internationally renowned soprano who performed in Australia, Europe and the United States of America and taught at the Melba Memorial Conservatorium of Music, now the Melba Opera Trust. A core function of the Reserve Bank is to maintain public confidence in Australia's banknotes. Australia has one of the safest and most secure currencies in the world and has experienced relatively low levels of counterfeiting for many years. To ensure that this continues to be the case, the Reserve Bank researches anti-counterfeit technologies and developments in banknote design. The results of this work have culminated in a project to upgrade the security of Australia's banknotes. The first denomination in the new series, the $5 banknote, was issued on 1 September 2016. The new $10 banknote was issued into general circulation from 20 September 2017 followed by the new $50 banknote on 18 October 2018. The new $20 was issued into circulation on 9 October 2019 and the new $100 was issued on 29 October 2020.