US unveils new design for USD 100 currency note
The USD 100 currency note got a face-lift today as the US unveiled a new design for it, complete with advanced technology to combat counterfeiting, top officials said.world Updated: Apr 21, 2010 21:28 IST
The USD 100 currency note got a face-lift on Wednesday as the US unveiled a new design for it, complete with advanced technology to combat counterfeiting, top officials said.
The new USD 100 currency note has a number of security features, including two new ones, the 3-D Security Ribbon and the Bell in the Inkwell.
"The advanced security features we've included in the new USD 100 note will hinder potential counterfeiters from producing high-quality fakes that can deceive consumers and merchants," said Larry R Felix, Director of the Treasury's Bureau of Engraving and Printing.
The USD 100 currency is the highest value denomination that is issued by the US, and it circulates broadly around the world, said Michael Lambert, Assistant Director for Cash at the Federal Reserve Board.
"As with previous US currency redesigns, this note incorporates the best technology available to ensure we're staying ahead of counterfeiters," said the Treasury Secretary Tim Geithner, as he unveiled the new note along with several other top officials of the administration.
Although less than 1/100th of one per cent of the value of all US currency in circulation is reported counterfeit, the USD 100 note is most widely circulated and most often counterfeited denomination outside the US.
"When the new design USD 100 note is issued on February 10, 2011, the approximately 6.5 billion older design USD 100s already in circulation will remain legal tender," Chairman of the Federal Reserve Board, Ben S Bernanke said.
"To ensure a seamless introduction of the new USD 100 note into the financial system, we will conduct a global public education programme to ensure that users of US currency are aware of new security features," US Treasurer Rosie Rios said.
First Published: Apr 21, 2010 21:26 IST