Monday, September 23, 2019 | 02:45 AM

New Family of Banknotes - FAQs

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1.  Portrait

Q: Is there a policy on placement of the portrait of the current President on the face of banknotes?

A: Placement of portraits on banknotes is a practice that has been followed by the Bank since the inception of the Pula Monetary Unit.  The Minister of Finance and the President are consulted and given options to consider and guide the Bank accordingly.

Q: How does the Bank decide on which portrait to place on banknotes?

A: The Bank considers political figures and other eminent individuals who have made a contribution to the welfare and development of the country.

Q: Who is consulted when a portrait is removed from new banknotes?

A: Replacement of portraits is conducted by the Bank after consultation with the Minister of Finance and the President.  The withdrawal of portrait follows the same procedure.

2. New Family of Banknotes

Q: At what intervals should a new family of banknotes be introduced?

A: Most central banks in the world conduct a comprehensive and complete review of the family series every 7 – 10 years. The review could result in moderate or extensive changes or leave the banknotes series unchanged.

Q: What is the collective name for all the banknotes in circulation?

A:  Denomination structure.

3. Security Features

Q: What security features are in the new banknotes?

Watermark (Zebra)

- StarChrome Tread
- Machine readable serial numbers (black only)
- Holographic stripe (P50, P100, P200)
- Block Blink (All the banknotes)
- See through feature (All the banknotes)
- Split numbering
- Fibres (seen under UV light)
- Micro-Print (seen using a magnifying glass) 
- Intaglio

4. The Review Process

Q: What does the review process entail?


- The denomination structure
- Security features
- Size of banknotes
- Portraits
- Serial numbers
- Design themes
- Art work

Q: What factors influence the banknotes family review process?

- Inflation
- Political, economic, cultural and social developments and changes
- Cost of banknotes
- New inks and technological innovations
- Rate and level of banknote counterfeiting
- Cost of production

5. Theme Design

Q: What is banknote theme design?

A: The display of a national or symbolic activity on the banknote, normally on the reverse side of the banknote e.g.
- Tourism
- Cultural activities such as basket making
- Mining
- Agriculture

 Why are the design themes featured on the banknotes?

A: The themes are symbolic and portray the major socio-economic, political and cultural make-up of Botswana as a country.  The banknote themes could also be of benefit in educating outsiders about the major attractions of Botswana as a country e.g. Tourism, Diamond production etc.

6.   The P200 Banknote

Q:  Why was the P200 banknote introduced?

A: The P200 banknote was introduced following extensive consultations and with the assistance of De La Rue.  The main consideration was to sustain the purchasing power of the Pula Monetary unit and to relieve pressure on the P100 banknote, which had become the “banknote of choice” due to inflation.

The introduction of the P200 is also a cost saving measure, due to its high value relative to the cost of production.

Q: Why is the portrait of a lady teacher and pupils displayed on the P200 banknote?

A:  The portrait carries a message about the contribution of women in the development of Botswana; not only in teaching and providing education to the nation but in many other spheres.

Q: Will it be easy to transact with the P200 denomination when purchasing small items (e.g., a packet of sweets)?

The Bank has retained the P10 and P20 for 'change' and purchase of small items.  The new family has a denominational structure of 5 denominations to allow flexibility in transacting.

Q: Why did the Bank decide on P200 instead of P150, P300 or P500 banknote?

A: International standard and practice is to sequence the denomination structure as follows:

P1, P2, P5, P10, P20, P50, P100, P200, P500, P1 000 etc.

The above sequence makes it easy to transact, to add up the figures and to reconcile transactions.  However, nothing stops any country from deviating from this sequence.



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