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Australia prints money for a number of countries through Note Printing Australia (NPA), a wholly owned subsidiary of the Reserve Bank of Australia. NPA prints polymer notes or supplies the polymer substrate for countries including Bangladesh, Brunei, Chile, Kuwait, Malaysia, Mexico, Nepal, New Zealand, Papua New Guinea, Romania, Samoa, Singapore, the Solomon Islands, Sri Lanka, and Vietnam. NPA has printed over 10 billion banknotes for 19 countries on more than 80 denominations and has won numerous awards for its printing capabilities.
| Characteristics | Values |
|---|---|
| Number of countries Australia prints money for | 19 |
| Number of denominations printed for other countries | 80+ |
| Total number of banknotes printed for other countries | 10 billion+ |
| Countries Australia prints money for | Bangladesh, Brunei, Chile, Kuwait, Malaysia, Mexico, Nepal, New Zealand, Papua New Guinea, Romania, Samoa, Singapore, Solomon Islands, Sri Lanka, Vietnam |
| Location of printing | Craigieburn, Victoria, 25 kilometres north of Melbourne |
| Year of corporatization | 1998 |
| Parent company | Reserve Bank of Australia |
| Technology used | Polymer substrate |
| Other services | Prints security documents like passports |
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What You'll Learn
Countries that Australia prints money for
Note Printing Australia (NPA) is a wholly owned subsidiary of the Reserve Bank of Australia (RBA) that produces banknotes and passports. It was corporatised in July 1998 and is located in Craigieburn, Melbourne. NPA has printed banknotes for Australia for over a century. However, it now also prints polymer banknotes for several other countries.
The NPA's main production building is a four-storey, reinforced concrete structure with high-security perimeter fencing and an armed guard force protecting it around the clock. The NPA site is supported by a range of highly sophisticated electronic security and surveillance devices.
The NPA has printed more than 10 billion banknotes for 19 countries on over 80 denominations. It has won numerous awards for its printing capabilities, including the 2020 Currency Services Award by the London-based industry organisation Central Banking. The NPA prints polymer notes or supplies the polymer substrate for countries including Bangladesh, Brunei, Chile, Kuwait, Malaysia, Mexico, Nepal, New Zealand, Papua New Guinea, Romania, Samoa, Singapore, Solomon Islands, Sri Lanka, and Vietnam.
The NPA works closely with Securency Pty Ltd, a joint venture between the Reserve Bank and Innovia Films, a global supplier of polypropylene films. Securency provides the NPA and other currency note printers with high-security polymer substrates that have unique coatings and security features.
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Benefits of polymer banknotes
Australia prints polymer banknotes for several countries, including Bangladesh, Brunei, Chile, Kuwait, Malaysia, Mexico, Nepal, New Zealand, Papua New Guinea, Romania, Samoa, Singapore, Solomon Islands, Sri Lanka, and Vietnam. Many other countries are also showing a strong interest in this new technology.
Polymer banknotes have become increasingly popular, with many countries opting to switch from traditional cotton-based "paper" banknotes to those printed on a plastic substrate. Polymer banknotes offer a plethora of benefits, including:
Durability
Polymer banknotes are more durable than paper banknotes, lasting on average two to two and a half times as long. Paper banknotes get worn out over time as they absorb moisture, dirt, and grease. On the other hand, the polymer substrate is non-porous, making the notes impervious to these elements. Spills on polymer banknotes can be easily wiped off without damaging the note.
Security
Polymer banknotes are harder to counterfeit than paper banknotes due to their detailed images and the use of expensive, advanced technology. Polymer notes incorporate many security features not available in paper notes, such as intaglio, metal strips, clear areas, and metameric inks. These security features make it more challenging for counterfeiters to replicate the notes convincingly. Countries that have adopted polymer banknotes have reported a significant reduction in counterfeiting compared to those using paper money.
Cleanliness
Polymer banknotes are significantly cleaner than paper notes. Paper money can easily get dirty and has been known to contain traces of grime, bacteria, viruses, and even faecal matter. In contrast, polymer notes are essentially made of plastic, making them easier to clean and less likely to host harmful microorganisms.
Environmental Impact
Polymer banknotes have a lower environmental impact than paper notes due to their longer lifespan, reducing the need for frequent replacement. Additionally, the manufacturing process for polymer notes is more energy-efficient.
Accessibility
Polymer banknotes offer improved accessibility features, such as tactile elements like Braille dots, making it easier for visually impaired individuals to identify and use the currency.
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Note Printing Australia's security measures
Note Printing Australia (NPA) is a wholly owned subsidiary of the Reserve Bank of Australia (RBA) that produces banknotes and passports. It was corporatised in July 1998 and is located in Craigieburn, Melbourne. NPA has printed over 10 billion banknotes for 19 countries on more than 80 denominations.
NPA's security measures are based on a comprehensive 'defence-in-depth' strategy that integrates physical, electronic, and procedural security. Their 17-hectare site is situated near a main road and Melbourne's International Airport and is surrounded by a fenced sterile zone protected by extensive electronic intruder detection systems. An armed guard force controls access, monitors security systems, and responds to security incidents. NPA also employs dual or triple custody procedures for handling all security materials, and their physical and documentary systems monitor the integrity of security materials through all stages of design, manufacture, warehousing, and delivery.
The Design and Prepress Department is physically isolated and secured by 24/7 CCTV and two-layer electronic swipe pass access, with materials stored in purpose-built vaults.
In 2005/06, NPA invested in new IT infrastructure and management systems, tightening process controls, increasing productivity, and improving print quality. This included the implementation of an additional note-sorting machine, which raised capacity in the finishing area.
NPA works closely with Securency Pty Ltd, which supplies print-ready polymer substrates. Securency produces high-security polymer substrates by applying unique coatings and security features to specialised films supplied by Innovia. Securency currently supplies three types of substrates: Guardian® for high-security printers for currency notes, Sentinel® for other high-security documents such as land titles and academic transcripts, and Sentrii® for secure cards.
The development of polymer banknote technology in 1988, which NPA was instrumental in, has been a significant security measure, as polymer banknotes are more durable and difficult to counterfeit than paper notes.
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The process of printing banknotes
Note Printing Australia (NPA) is a wholly owned subsidiary of the Reserve Bank of Australia (RBA) that produces banknotes and passports. It was corporatised in July 1998 and is located in Craigieburn, Melbourne.
The first printing stage involves printing background colours and patterns onto both sides of the polymer sheets using simultaneous printing machines. Security features, such as a top-to-bottom window and a rolling colour effect, are applied during this stage. Portraits and narrative elements are then printed using intaglio printing, which involves transferring ink onto the sheets under high pressure with engraved metal plates.
Serial numbers are added to the sheets using a letterpress printing process, and a protective overcoating ink is applied to enhance durability and cleanliness. Tactile features, such as raised bumps, are included to assist visually impaired individuals in identifying denominations. Finally, the sheets are guillotined into individual banknotes, inspected for quality, and shrink-wrapped before being stored in a strong room for distribution.
NPA has printed banknotes for Australia and several other countries, including Malaysia, New Zealand, Papua New Guinea, Nepal, Bangladesh, Brunei, Chile, Kuwait, Mexico, Romania, Samoa, Singapore, the Solomon Islands, Sri Lanka, and Vietnam. The company has won awards for its printing capabilities and has played a key role in establishing polymer technology as a secure and durable alternative to paper banknotes.
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The history of Australia's currency
In the early 19th century, following the discovery of gold in Australia, the country began minting its own gold coins, and commercial banks issued their own notes backed by gold. The Queensland Treasury also issued its own legal tender banknotes and prohibited private banks in the state from issuing their own notes.
In 1910, the Australian Notes Act was passed, introducing a national currency, the Australian pound, which was divided into 20 shillings, with each shilling worth 12 pence. This act also prohibited the circulation of state notes, giving the Commonwealth Treasury full control over the issue of Australian notes. The Bank Notes Tax Act, also passed in 1910, imposed a 10% tax on all bank notes issued or re-issued by any bank in the Commonwealth, effectively ending the production of private currency in Australia.
In 1920, the Commonwealth Bank Act transferred note-issuing authority from the Treasury to the Commonwealth Bank. The Australian pound was initially at par with the British pound, but in 1931, it was devalued to £A1 = 16 shillings sterling. From 1946 to 1971, Australia maintained a peg under the Bretton Woods system, fixing the exchange rate of the Australian dollar to the US dollar.
In 1966, Australia introduced its first decimal series of banknotes, replacing the Australian pound with the Australian dollar. The $1 and $2 banknotes were later replaced by coins in 1984 and 1988, respectively. Australia was the first country to produce polymer banknotes in 1988, which were more durable, cleaner, and easily recyclable than paper notes.
Today, Australia's currency, the Australian dollar, is the official currency and legal tender in Australia and three independent Pacific Island states: Kiribati, Nauru, and Tuvalu. Australian coins are produced at the Royal Australian Mint in Canberra. The country also prints polymer banknotes for several other countries through Note Printing Australia, a subsidiary of the Reserve Bank of Australia.
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Frequently asked questions
Australia prints money for a number of countries through Note Printing Australia (NPA), a subsidiary of the Reserve Bank of Australia. Some of the countries include Bangladesh, Brunei, Chile, Kuwait, Malaysia, Mexico, Nepal, New Zealand, Papua New Guinea, Romania, Samoa, Singapore, Solomon Islands, Sri Lanka and Vietnam.
Note Printing Australia (NPA) is a security printing facility located in Craigieburn, Victoria, that prints banknotes and passports. It was corporatised in July 1998 and is wholly owned by the Reserve Bank of Australia. NPA has printed over 10 billion banknotes for 19 countries on more than 80 denominations.
Polymer banknotes are cleaner, more durable, and easily recyclable compared to paper notes. They also have advanced security features that make them harder to counterfeit. Australia was the first country to produce polymer banknotes in 1988.
Australia's money printing process, including the replacement of worn-out or lost coins, generates revenue through seigniorage. The Reserve Bank of Australia earns from the difference between the cost of producing the currency and its face value.
