New Zealand unveils new currency notes

The Reserve Bank of New Zealand Thursday unveiled more vibrant and secure currency note designs after a gap of 15 years. The new currency notes will enter circulation later next year.

A website Brightermoney.co.nz with basic information about the banknotes and the upgrade project has also been launched, said a bank statement.

"Designs and printing techniques have advanced significantly since the current banknotes were released in 1999, and demand for cash continues to increase," Deputy Governor Geoff Bascand said in the statement.

The new designs still feature the same well-respected individuals and flora and fauna as the current banknotes.

"Our new notes contain more sophisticated security features that greatly enhance the overall design. The striking holographic features will help to make the notes very easy to verify, but hard to counterfeit," he added.

The bank aims to release $5 and $10 notes in October next year, and plans to release$20, $50 and $100 in April 2016.

Both the current currency notes and the new currency notes will circulate simultaneously.