NZ banknotes staying in circulation longer than expected, RBNZ's Orr says

Mon, 09 Jul 2018

By Tina Morrison July 9 (BusinessDesk) - New Zealand's newest banknotes, known as the Series 7, are taking longer to fully replace the earlier Series 6 notes as the national currency is staying in circulation for more time than anticipated. The Series 7 $5 and $10 notes started circulating in October 2015, with the $20, $50 and $100 notes released the following year in May 2016. They were designed to replace the sixth series of banknotes, issued in 1999, and both remain legal tender. Like other countries, New Zealand regularly replaces...

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