ECCB unveils redesigned EC banknotes honoring regional heroes

The Eastern Caribbean Central Bank has revealed new EC banknote designs that replace Queen Elizabeth II with regional heroes and the ECCB logo. The redesign, unveiled in Dominica on July 9, aims to reflect the people, heritage and achievements of the eight ECCU member countries.

Why it matters: - The new banknotes shift the currency's symbolism from colonial-era imagery to people and institutions from the Eastern Caribbean Currency Union. - The redesign is meant to reflect regional identity, achievement and public ownership of the currency. - The change also extends to EC coins, which will replace the likeness of Queen Elizabeth II with the ECCU logo.

What happened: - Governor Timothy N.J. Antoine and members of the ECCB Monetary Council unveiled the new EC banknote designs on Thursday, July 9, in the Commonwealth of Dominica. - The unveiling took place during the Ceremony to Mark the Change in Chairmanship of the ECCB Monetary Council. - The banknotes no longer feature the likeness of the late Queen Elizabeth II.

The details: - The $100 note now features Sir William Arthur Lewis, the 1979 Nobel Prize winner in Economics, and The Right Honourable Sir John George Melvin Compton of Saint Lucia. - The $50 note features former ECCB Governor Sir K. Dwight Venner, who served from 1989 to 2015, and The Right Excellent Sir Robert Llewellyn Bradshaw of Saint Christopher (St Kitts) and Nevis. - The $20 note features The Right Honourable Sir Vere Cornwall Bird Snr of Antigua and Barbuda and The Honourable Dame Mary Eugenia Charles of the Commonwealth of Dominica. - The $10 note features The Most Excellent William Henry Bramble of Montserrat and The Honourable James Ronald Webster of Anguilla. - The $5 note features The Right Honourable Robert Milton Cato of Saint Vincent and the Grenadines and Sir Kirani James, LLD (Hons), of Grenada. - The new series includes, for the first time, the ECCB logo encircled by the flags of the ECCU. - Sir K. Dwight Venner's likeness has moved to the front of the $50 note. - Sir William Arthur Lewis has moved from the back of the $100 note to the front.

Between the lines: - The ECCB framed the redesign as a public-driven effort after inviting residents to help shape the currency's new look. - Antoine said the public wanted the currency to honor “our own heroes, nation builders, and persons whose lives and achievements have enriched our countries and strengthened our region.” - The selection of figures from each member country signals an effort to balance national representation across the ECCU.

What's next: - The ECCB did not provide a timeline for circulation of the redesigned notes and coins in the release. - The banknote and coin changes are likely to roll out as part of the region's next currency production cycle.