Banknotes in Circulation
Australia's banknotes represented a world first in currency manufacturing – they were the first full series to be printed on polymer (plastic). Polymer banknote technology was developed in Australia, jointly by the Reserve Bank and the CSIRO. The reason for introducing polymer banknotes was simple – to keep one step ahead of counterfeiters by making Australia's banknotes more secure. Polymer banknotes have the added benefit of being more durable than paper banknotes which, in turn, makes them more cost-effective.