Business | Economy
Central Bank introduces new Dh500 note
Existing currency continues to be legal tender
- By Himendra Mohan Kumar, Staff Reporter
- Published: 00:00 November 27, 2011
Abu Dhabi: The UAE Central Bank announced yesterday that it has decided to put into circulation an amended Dh500 banknote, reprinted with new security features.
"This currency note will be put in circulation as legal tender along with currency notes currently in circulation with effect from Tuesday, November 29," the Central Bank said in a statement.
"The Central Bank's move reflects that there has been a considerable growth in the domestic economy and the money in circulation is getting enlarged. It seems the people, businessmen and the economy as a whole feel the need to use larger bills that show their increased purchasing power and increased number of financial transaction," Dr Mohammad Amerah, an Abu Dhabi-based economist, told Gulf News.
"The new security features on the note will curb counterfeiting," Amerah added.
In the new Dh500 note, the optically variable stripe feature is replaced by a see-through window on the front right side. In front of bright background, it shows the denomination value "500" in ornamental circles; whereas, in front of dark background, an ornamental design only is visible.
Optical stripe
Extending throughout the window, there is an optically variable stripe showing the National Emblem, falcon head and denomination value, the appearance and colours change depending on the viewing angle.
Among other features, the silver metallic thread on the back of the note is replaced by a broader 3mm colour-shifting window thread reading "UAE 500".
"The metallic ink surrounding the UAE emblem on the top front of the note is replaced by multicolour ink print," the bank said.
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