Eastern Caribbean currency remains safe, Central Bank reassures

Tuesday, August 22, 2017

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BASSETERRE, St Kitts (CMC) — The Eastern Caribbean Central Bank (ECCB) says the Eastern Caribbean (EC) currency remains stable and that the banknotes are protected by the various security features.

“The ECCB continues take steps to deter the circulation of counterfeit notes and to protect the stability of the Eastern Caribbean currency,” the ECCB said.

The statement by the ECCB, which serves as a Central Bank for Antigua and Barbuda, Dominica, St Lucia, St Vincent and the Grenadines, Montserrat and Anguilla, follows an announcement in Grenada last week that counterfeit EC$50 and EC$100 dollar notes were now in circulation here with the serial numbers VM033672 and SR380132 respectively.

“The public is urged to exercise utmost vigilance and caution when doing business. Small business operators such as bus drivers, taxi operators, shop keepers, vendors and the likes are urged to be on their guard,” the police said in a statement.

ECCB Deputy Director of the Currency Management Department, Rosbert Humphrey, said the Grenada police recently retrieved three counterfeit EC$50 notes and one EC$100 note.
But he insists there is no need for the public to be alarmed, adding that, of the banknotes throughout the world, the EC notes are known to have the most security features.

“However, the ECCB urges the public to be vigilant, particularly during the times of festivities, when perpetrators tend to engage in the production and circulation of counterfeit notes.”
Humphrey said that there are officers in the police forces and commercial banks across the Eastern Caribbean Currency Union who are trained to identify counterfeit EC notes.

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