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Wednesday, January 16, 2019

New HK$500 Banknotes Soon to Release in Hong Kong

New HK$500 banknotes soon to release in Hong Kong

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On January 23, 2019, Hong Kong is set to release new HK$500 banknotes. 230 million banknotes will be made available. This is following the December release of 90 million HK$1,000 banknotes, which received lukewarm responses.

Mixed Responses

In December, Hong Kong released HK$1,000 banknotes. Unfortunately, they did not receive the response they were looking for. Not as many people went to receive the banknotes as expected. Some bank employees even referring to the release as, "just a normal day."

This raises concerns for the new banknote set to release this month. The HK$1,000 and HK$500 banknotes are the first of their design, with improved security features, including an advanced watermark and a concealed denomination. 

The Future of HKD Banknotes

Other denominations, HK$100, HK$50 and HK$20, will be released mid-2019 and early 2020, employing the same security features. Citizens will be able to acquire the new bills at branches of Bank of China (Hong Kong), Standard Chartered Bank (Hong Kong), and HSBC, with each bank using its own designs.

Many are anxious to see what the response to the new banknotes will be. 

 

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Posted By Isabella Guevara at 09:00 AM
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