Circulation of Fiji 88 cents numismatic note restricted

August 9, 2022 12:20 pm

Reserve Bank of Fiji. [Photo: The Reserve Bank of Fiji/ Facebook]

The Reserve Bank of Fiji has today clarified that the Fiji 88 cents numismatic note will not be circulated.

The clarification comes following recent misinformation and speculation on social media on the banknote.

RBF states the numismatic banknote with a face value of 88cents has been created for sale targeted at the Chinese and wider Asian market.

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It further states that past numismatics banknotes and coins issued by RBF, have covered themes such as Christmas, landmarks, celebrities such as musicians and fauna like birds of Fiji.

The RBF says these have been an important income stream for them.

The newly-announced 88cents numismatic banknote is among the hundreds of non-circulation numismatic currencies that the RBF has produced since 1974.

In addition, RBF states the practice is similar to that of stamp production, whereby hobbyists can purchase banknotes and coins for their collections.

In the past three years alone, the RBF has generated over $8 million in income through the sale of numismatic banknotes and coins which complements their income.

As is common practice among central banks, the RBF produces limited quantities of numismatic currency in partnership with reputable companies and entities for purchase by collectors and enthusiasts.