US govt circulates new $20 bill

The colour of money is changing in the United States as the first in a new range of banknotes was introduced today.

The mighty green is becoming the mighty peach, blue and green as the US government releases into circulation the new 20-dollar bill.

Same-sized, single-coloured American notes have for years been a source of irritation for tourists who struggle to quickly tell the different denominations apart.

And counterfeiters are increasingly using digital technology to copy the world’s most famous currency.

Throughout the day billion of dollars worth of the new notes will go into circulation.

From 6am armoured trucks were delivering them from Federal Reserve vaults to banks across the country.

The new 20-dollar bill will still feature the image of the seventh president of the United States, Andrew Jackson, on the front and as well as a historical vignette of the White House on the back.

The new design also retains the watermark, security thread and colour-shifting ink.

But the big difference is that the bills will also feature subtle shades of green, peach and blue in the background.

There are currently about five billion 20-dollar notes in circulation around the world.

New 50-dollar bills will be introduced next year and 100-dollar bills in 2005 and different colours will be used for different denominations.

Decisions on new designs for the 5 and 10 dollar notes are still under consideration, but a redesign of the 2 and 1 dollar notes is not planned.

“The new 20 notes will be safer, smarter and more secure currency: safer because they will be harder to fake and easier to check; smarter to stay ahead of tech-savvy counterfeiters; more secure to protect the integrity of the US currency,” the US Treasury said.

Bills will be updated every seven to 10 years to keep ahead of the counterfeiters, the department added.

To launch the new note “The New Colour of Money” billboard is being unveiled in New York’s Times Square.