World-first in the wallet
Several million banknotes, five state-of-the-art banknote processing systems, and one global first – all successfully delivered to the Central Bank of the Dominican Republic (CBDR) in 2017 by G+D Currency Technology, working within a very tight timeframe. Frank Amado Montaño Peña, Deputy Managing Director of the CBDR, is proud of the results for his country.
Mr. Montaño, the Dominican Republic now has a banknote that is unique in the world. What’s so special about it?
To mark the 70th anniversary of our central bank in 2017, we issued a commemorative banknote with a denomination of RD$ 500. For the first time in the long history of our currency, it bears the logo of the financial institution, just like those issued by other central banks around the world. This banknote also incorporates one of the world’s most sophisticated security features.
What feature is that?
We chose the Galaxy security thread produced by G+D, which makes our banknote the first in the world to be in circulation with this pioneering technology.
What other banknotes in the Dominican Republic are now made by G+D?
Following completion of the tendering procedure in accordance with the applicable laws, G+D was awarded the contract to supply six banknote denominations in the 2016 series: 50, 100, 200, 500, 1000, and 2000 Dominican pesos, all issued in 2017. This series was a major challenge for the company because it was the first time it had printed this new design.
And the CBDR also opted for the very latest in banknote processing equipment?
Yes, we have now achieved a level of workplace safety and quality for our employees that is probably among the highest in the whole region. We did this by installing three BPS®® M7 banknote processing systems from G+D in the cash center at our headquarters in the capital, Santo Domingo, and two more in our branch in Santiago de los Caballeros.
We have now achieved a level of workplace safety and quality for our employees that is probably among the highest in the whole region.«
How is the Dominican Republic benefiting from these innovations?
In line with our constitution, the CBDR is the sole issuer of banknotes and coins. As such, one of our core objectives is to meet the need for cash, making sure we provide a topquality product in a timely manner. This facilitates effective trade and transformation in our country.