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For the purposes of hygiene and security, this institution, through
the commercial banks, continuously replaces deteriorated banknotes in
circulation with new banknotes. A banknote in good shape helps people to
identify its safety features and, being cleaner, is more hygienic.
In our country, the speed with which banknotes of low
denomination circulate is high, and as a result they suffer accelerated
deterioration. This leads to a higher proportion of deteriorated banknotes
among them in circulation, and it means that the central bank must replace
them with greater frequency than it does for other denominations.
Several countries have resolved similar problems by
printing banknotes on polymer since polymer is more durable and hygienic
and also safer than paper. The polymer is a plastic substratum,
technically known as Biaxially-Oriented Polypropylene or BOPP.
It would appear that the problem of the short life of
low-denomination banknotes can be solved using this technology.
Nevertheless, the public's habit of handling paper money and the climactic
and cultural conditions in Mexico must be taken into account. To determine
if our banknotes could benefit from a longer average life, on September
30, 2002, Banco de México put into circulation 20-peso banknotes
printed on a plastic substrate imported from Australia, the only country
which, at the moment, produces a circulation-tested material of this type. Banknotes of 20 pesos were selected because they are of
the lowest denomination, they change hands most frequently, and they
deteriorate faster than banknotes of other denominations.
The principal advantages that have been
observed so far are:
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Savings: Due to longer life, in the case of the
20-peso polymer banknote, a savings of 42% vis-à-vis the continued
manufacture of the banknote with paper has been estimated.
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Longer life: The data indicate that the 20-peso
banknote manufactured with polymer lasts up to three and a half
times longer than the same banknote made with paper.
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Cleaner and more hygienic: Even though they last 3.5
times longer than paper banknotes, banknotes made from polymer
come back to the central bank much cleaner.
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Greater safety: The index of banknote counterfeiting
in this denomination has been reduced from 18 counterfeit paper
banknotes per million notes in circulation at the end of 2002 to 0.6
counterfeit banknotes per million notes in circulation at the end of
2004. |
Among the main disadvantages observed can be found:
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After a while, the notes tend to tear. Due to the fact
that they get dirty slowly, they last longer in circulation until
tearing is seen. They are particularly vulnerable to staples and
sharp cutting objects (which is why they should not be stapled).
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Handling the notes may sometimes be more
complicated: They can be sticky, for example, if they are wet or
come into contact with some liquid other than water. Also, folds in
these banknotes tend to be permanent, which can be an inconvenience. |
The conclusions of this test were presented at a press conference on
January 27, 2005. The final results can be summarized as follows:
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Public surveys showed widespread acceptance of these
banknotes. Among the main advantages mentioned were issues of
hygiene and cleanliness. However, some negative points were
mentioned, including a large quantity of torn banknotes in this
denomination. But in general, the public was satisfied with the
banknote printed on this material.
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The 20-peso polymer banknote lasted approximately
3.5 times longer than the paper one.
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Due to the longer duration of the 20-peso polymer
banknote, it represents an estimated 42% saving vis-à-vis the continued manufacture of the same note with paper. |
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