New US currency to help reduce forgery: officials

November 10, 2013 (JUBA) – The U.S Federal Reserve Board (FRB) says it’s newly released 100 USD ($) notes will help control growing cases of counterfeits, usually common with those dealing in its currency.

Speaking at teleconference organised by the US embassy in South Sudan, Michael Lambert, an associate director for the Banknote Planning and Quality Control at FRB said both the old and new currencies will remain in circulation, but the former will be withdrawn.

From 8 October, FRB began supplying financial institutions the re-designed bank notes, consisting of new security features on them.

“The new design incorporates security features that make it easier to authenticate, but harder to replicate,” FRB governor, Jerome H. Powell, noted in a statement.

“As the new note transitions into daily transactions, the user-friendly security features will allow the public to more easily verify its authenticity,” he stressed.

The new $100 notes, now in circulation, have two new security features; a blue 3-D security ribbon with images of bells and 100s, and a color-changing bell in an inkwell.

The new design for the $100 note, however, retains the traditional look of the U.S. currency, with additional features such as a watermark; which offer the public a simple way to visually authenticate it.

In April, 2010 officials from the U.S. Department of the Treasury, the FRB, and U.S Secret Service unveiled the new note design, complete with advanced technology to combat counterfeiting.

(ST)