By Central Bank of Seychelles….
The Central Bank of Seychelles will launch a new family of banknotes and coins to commemorate 40 years of Seychelles’ Independence, with the theme “Seychelles’ Unique Biodiversity – the backbone of our economy”. The project which started in 2012 is in its final stage and the issuance is scheduled for December 2016.
The new series of currency will comprise of different sized paper banknotes of 500 Rupees, 100 Rupees, 50 Rupees, and 25 Rupees, and the new set of coins will include the following denominations: 10 Rupees, 5 Rupees, 1 Rupee, 25 cents, 10 cents, 5 cents, and 1 cent. New to the set of coins is the inclusion of the 10 Rupees bimetallic coin denomination, which currently is a banknote.
The design of the new family of banknotes and coins incorporates the beauty of the Seychelles’ endemic flora and fauna as thematic icons. To ensure a smooth transition, certain design elements have been retained, such as the general color scheme of the banknotes.
“The new banknotes and coins have new and enhanced features which offer better protection against counterfeit, cater for the needs of the visually impaired and celebrate our trilingual heritage”, says Governor Caroline Abel.
The current banknotes and coins have been in circulation since 1998 and 1982 respectively.
The need to enhance the robustness of the security features of the national currency is a core responsibility of the Central Bank of Seychelles and is in alignment with the national and international expectations for great quality banknotes and coins.
The banknotes issued from 1998 to 2015 (500 Rupees, 100 Rupees, 50 Rupees, 25 Rupees and two 10 Rupees) will remain legal tender and will be in circulation until they are officially demonetized by the Central Bank of Seychelles. The coins issued from 1982 to 2015 (5 Rupees, 1 Rupee, 25 Cents, 10 Cents, 5 Cents and 1 Cent) will remain legal tender and will co-circulate with the new series.
At the time of publication, one Seychelles rupee (SCR) trades for almost $0.08 USD.
