Banknote Quality in Australia

Under the Reserve Bank Act 1959, the Reserve Bank has responsibility for the production, issue, reissue and cancellation of Australia’s banknotes. The key objective of the Bank in meeting this legislative responsibility is to maintain public confidence in Australia’s banknotes. There are three facets to this. First, the Bank ensures that there are sufficient banknotes to meet demand. Second, it attempts to minimise the risk of counterfeiting. Finally, it strives to ensure that the banknotes in circulation meet the functional requirements of the public. More precisely, the banknotes must be acceptable to retailers, and be able to be used in banknote equipment such as automated teller machines (ATMs) and ticketing machines.