Paper still used more than polymer

Paper remains the most commonly used substrate for banknote printing among the 30 central banks participating in Currency Benchmarks 2022, published by the U.K.-based Central Banking Institute.

More than half of respondents (56.7 per cent) reported exclusively using paper for printing, representing a slight decline from the past years benchmark. Five respondents (16.7 per cent) reported only using polymer.

The Bank of Canada has used polymer exclusively since 2013, when the last issues from the Frontiers series entered circulation. Made from polyethylene terephthalate, the polymer notes can last up to four times longer than cotton-based paper money, they can combine transparency and holography for design and security features, and they have a lower environmental impact.

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