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CARIBBEAN | ECCB re-assures people about safety of currency

ECCB Deputy Director of the Currency Management Department, Rosbert Humphrey ECCB Deputy Director of the Currency Management Department, Rosbert Humphrey
BASSETERRE, St. Kitts, Aug 22, 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 of the notes.

“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.

ECCBThe 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 (One EC dollar =US$0.37 cents) and EC$100 dollar notes were now in circulation here and that they had 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 (ECCU) who are trained to identify counterfeit EC notes.

“The public is reminded that it is an offence to be in possession of counterfeit EC notes. Individuals who are in possession of counterfeit notes or think they may have received such notes during their business transactions are asked to take them to the Police Criminal Investigation Department in their respective countries or to the ECCB Agency Office in their respective countries.”

  • Countries: Caribbean