Information on new $100 note. Courtesy the Central Bank of Trinidad and Tobago
THE current $100 bill will have no value as of December 31, 2019.
He said the amendment to legislation made in the Trinidad and Tobago Parliament over the weekend allowed for the demonetisation of the bill in two weeks.
Hillaire said the existing law allowed for demonetisation of currency to come three months after the pre-announcement.
The new currency is being distributed to the banks and will be available to the public from December 10.
Hillaire said that all other denominations will be converted to polymer by March 31, 2020, noting that polymer is more durable and cost-effective and will help save the country a lot of money.