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Monday, October 08, 2007

Paper Or Plastic: Future Israeli Money May Feel Funny

In an attempt to keep the 20 shekel bills from wearing out from every day use, the Israeli government has decided to switch from using paper to something a bit more artificial.

(Ha'aretz) Twenty-shekel bills will soon be printed on long-lasting plastic to reduce the wear and tear on the heavily used banknote. We will also see a new two-shekel coin soon, by the end of 2007, the Bank of Israel says. [...]

The regular rise in cash in circulation stems from greater demand for cash transactions, as well as growth in both the population and economy. The use of ATM machines also continued to climb in 2006, and the banks introduced new machines to accept cash deposits automatically.

Although many governments prefer to use either metallic coins or cotton/paper bills, it looks like Israel is experimenting with plastic.

Not too sure how the public will respond to the change, although the plastic bills should survive a lot longer if they are ever lost in the washing machine.

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