Prince Ata launches new polymer and paper Tonga 2023 banknote series [1]
Monday, December 4, 2023 - 23:53. Updated on Tuesday, December 5, 2023 - 10:59.
By Tupou Vaipulu Jr.
A new series of Tongan bank notes was launched today, 4 December, in commemoration of the official birthday of Tupou I - a national public holiday.
HRH Prince Ata unveiled the new bank notes at a launch held by the National Reserve Bank of Tonga (NRBT) at the Fa’onelua Convention Centre in Nuku’alofa.
The 2023 series was developed in collaboration with the banknote manufacturer De La Rue, and incorporate both paper and polymer elements. The $5 and $10 pa'anga denominations are Tonga's first polymer banknotes, promising enhanced durability and longevity for everyday use.
The NRBT stated that other banknotes, including the $2, $20, $50 and $100, are made with cotton-paper and will later develop into polymer.
Designed under the authority of the Privy Council, the designs on the bank notes reflect Tonga's culture, history, and aspirations. Each denomination tells a story.
The $2 note depicts a whale breaching from the vast Pacific Ocean, “aimed at promoting tourism”.
The polymer $5 highlights the mystery of the ancient stone archway, Ha’amonga ‘a Maui Trilithon.
The polymer $10 features HRH Princess Angelika Latufuipeka Tuku’aho, performing the traditional Kava Ceremony Milolua.
The $20 features the National Reserve Bank of Tonga Building, “symbolizing the country's present and future growth potential”.
The $50 features the St. George Government Building, “reflecting stability derived from good governance”.
The $100 note displays Tonga's Royal Family against the backdrop of the Royal Palace, “symbolizing the enduring stability”.
Each denomination incorporates security features developed by De La Rue, ensuring the highest standards of anti-counterfeiting measures.
Lord Sevele, NRBT Board Chairman, said the new banknote series brings advanced features to Tonga's currency, enhancing durability and reliability, and serving as a source of pride for the nation.
He acknowledged Mrs Brooke Banks from the De La Rue Currency for her support in the issue of the new Tonga 2023 series.
History of Tongan Pa'anga
The first currency of Tonga was initially the British Pound Currency, which circulated until 1967. However in 1921, a new series was released and was subdivided into 20 shillings, each of 12 pence. In 1933, the introduction of the 5 pounds was followed by the 4 and 10 shillings and 1 pound. Notes were marked as sterling and included, unusually, four shillings denominations.
Later on in 1936, the Tonga Pound was devalued to 1.25 Tonga pounds equals to 1 pound sterling. At the time the Tonga pound was equal to the Australian pound, which had been devalued. Four denominations were issued until 1966. The later issues of banknotes had the word "Sterling" crossed out and later removed completely.
On 3 April 1967, the Tonga Pound was replaced by the Pa'anga at a rate of 1 Pound equals to 2 Pa'anga. The Pa'anga banknotes at the time bore the portrait of the Queen Sālote Tupou III, in denominations of ½, 1, 2, 5, and 10 pa'anga. Later on, coins were introduced in denominations of 1, 2, 5, 10, 20, and 50 seniti and 1 pa'anga. The 1 and 2 senitis were struck in bronze with the other denominations in cupro-nickel. The 50 seniti and 1 pa'anga were struck in small numbers as these denominations were also issued in note form. At the same time, the Dodecagonal 50 seniti was also introduced.
In 1974, the portrait o King George Taufa'āhau Tupou IV replaced Queen Salote Tupou III on the pa'anga banknotes. During his 40 year reign, the ½ pa'anga notes were "no longer issued" in 1983, following the introduction of the 20 Pa'anga note two years later in 1985. It was introduced bearing the portrait of King Tupou IV and the Tonga Development Bank building on the reverse side.
In 1988, the first 50 pa'anga notes were introduced, again bearing the portrait of King Tupou IV, with the Vava'u Harbour on the reverse side. A year later, the Tongan Reserve Bank was given the sole right to issue currency. According to the NRBT Act on 1 July 1989 - sole right was given to the Bank to issue currency in the Kingdom.
In 1991-1992, the Tongan Pa'anga (TOP) was pegged to the Australian Dollar (AUD) at par, following the NRBT's new production of paper money.
In 2008, the 100 Pa'anga note was introduced, bearing the portrait of King George Tupou V with the Vava'u Harbour on the reverse side.
On 21 January 2009, the NRBT issued a new design to the banknotes in the denominations of 1, 2, 4, 10, 20 and, 50 pa'anga, which included the portrait of King Tupou V replacing King Tupou IV's portrait.
In 2015, HM King Tupou VI's portrait was printed on all bank notes and coins, and a new coined $1 was introduced and the discontinuance of the 1 and 2 senitis coins.