BASSETERRE, St. Kitts, CMC – The Governor of the Eastern Caribbean Central Bank (ECCB), Timothy N.J. Antoine, said he hopes that by next year, regional personalities will replace members of the British monarch on the Eastern Caribbean (EC) dollar.
Antoine said the transition will take place in phases, adding, “We expect, in all likelihood, that the first set of notes will be revealed and made available in 2027.”
For decades, the late Queen Elizabeth II’s image has appeared on several denominations of the currency, with the design reflecting the Eastern Caribbean’s historical ties to Britain, similar to those of other Commonwealth countries that recognise the British monarch as head of state.
However, change has been underway for some time, and at its meeting in St. Vincent and the Grenadines in 2023, the ECCB Monetary Council approved replacing the monarch’s image with the Eastern Caribbean Currency Union (ECCU) logo, subject to public consultation.
Antoine hinted that the public may get an early glimpse of what to expect on the redesigned currency.
“We are toying with an idea around the 50th anniversary of the peg, which is in July, but we will see,” he said, suggesting a possible “big reveal” later this year.
He said that the introduction of the new notes will not mean an immediate withdrawal of existing currency.
“Because what we also said was that, because some of our notes are new, we did not want to take them out of circulation simply. But as they come in and they get retired because they’re mutilated and so on, then we will introduce the new notes with our regional heroes, our regional images,” he added.
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