World Economy

UK Unveils Design of Plastic Banknote

UK Unveils Design of Plastic BanknoteUK Unveils Design of Plastic Banknote

The Bank of England has unveiled the design for the new plastic £5 note, BBC said. The new banknote will be smaller than the current one and be printed on a thin plastic called polymer. For more than 100 years, English banknotes have been made from cotton paper. Polymer banknotes are made from a very thin, flexible, see-through plastic film, with the design printed on special layers of ink on the front and back. Because the main material is see-through, the design can include clear spots that are like little windows you can look straight through. More than 20 countries around the world already use polymer banknotes—they include Scotland, Australia, New Zealand and Canada. The Bank of England says that polymer banknotes will be better than paper, because they will be cleaner, more secure and longer lasting. They’re even expected to survive if they accidentally go in the washing machine, although they’d melt under extreme heat.