The Central Bank of the United Arab Emirates announced that Abu Dhabi will soon be placing into circulation a new Dh500 banknote. The amended banknote will be reprinted with updated security features.
New Banknote Will Be Circulated November 29
“This currency note will be put in circulation as legal tender along with currency notes currently in circulation with effect from Tuesday, November 29,”said a statement released by the Central Bank.
An economist based in Abu Dhabi, Dr. Mohammad Amerah explained the bank’s decision.
“The Central Bank’s move reflects that there has been a considerable growth in the domestic economy and the money in circulation is getting enlarged. It seems the people, businessmen and the economy as a whole feel the need to use larger bills that show their increased purchasing power and increased number of financial transaction.”
Updated Security Features
The improved Dh 500 note will replace the variable stripe of the old bills with a clear window on the right side of the front face. When back-lit by bright light the denomination value of “500” is seen in decorative circles; but when held over a darkened background only the ornamental design is visible.
“The new security features on the note will curb counterfeiting,” Amerah added.
Optical Variability Key Change
There is an optically variable stripe present which extends throughout the see-through window. The stripe depicts the head of a falcon, the National Emblem, and the banknote’s value. A unique feature is that the appearance and the colors change depending on the angle one looks at the bill.
The silver thread which appeared on the back of the old banknote has been replaced by a wider 3mm window thread which shifts colors and says “UAE 500.”
“The metallic ink surrounding the UAE emblem on the top front of the note is replaced by multicolor ink print,” added the bank.