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New banknotes enter circulation

NZ NewswireNZ Newswire 15/05/2016

The new 20 note

The new 20 note

You might get a colourful surprise next time you withdraw a $20 note from a cash machine, as brighter, bolder banknotes enter circulation.

The Reserve Bank on Monday announced about 300,000 the country's new $20, $50 and $100 banknotes had been dispatched to banks.

The $5 and $10 notes were released last year as the country starts to replace the note design which has circulated since 1999.

Queen Elizabeth II, Sir Apirana Ngata and Lord Ernest Rutherford continue to grace the $20, $50 and $100 notes.

However, the public may not see a new note for some weeks, as the Reserve Bank distributes the notes as it receives orders from banks, head of currency Steve Gordon says.

The new notes are part of the seventh series of banknotes the country has issued as legal tender.

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