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Bank of Guyana releases new notes
Incidence of counterfeiting has increased rapidly over the years. To defeat that, the Bank of 
Guyana (BOG) has added new features to its $1000 and $500 notes.
To date, one million of each currency is in circulation. Bank officials indicated that the $500 notes have been in effect since November 4, while the $1000 notes were released on November 23.
According to the Director of Operations Department, Joseph Lall, the $500 note was last changed 11 years ago while; the $1000 note was changed five years ago.
He explained that the purpose of the change is to defeat counterfeiting with the availability of the new security features.
According to Lall, one of the new features includes a longer holographic strip across 
each note with small BOG initials reflecting on each note. He further noted that since the holographic strips are longer, counterfeiters are easily conquered.
Based on past records, counterfeit money was highlighted in the media early in 2008 when Customs officers unearthed $14M in counterfeit Guyana currency hidden among some items in a barrel that had been sitting at the John Fernandes Wharf for almost two years.
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