QUEEN HOLDS SWAY ON FIJI CURRENCY

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SUVA, Fiji (Fiji Times, Feb. 2) – The Fiji cabinet has agreed that the personal portrait of Queen Elizabeth II be retained on the new series of notes to be issued in 2007 to allow for a globally recognized icon on the country’s currency.

It made the decision based on a submission by the Minister for Finance and National Planning, Ratu Jone Kubuabola.

Ratu Jone said the Reserve Bank had recommended the retention of Queen Elizabeth's personal portrait to retain our historical link to the Queen and maintain a globally recognized aspect in the design of our currency notes.

He said changes to the portrait might be considered in subsequent reviews.

Ratu Jone said the Reserve Bank of Fiji began its currency review exercise in 2002 for issue in 2007.

This review is in line with its policy to periodically review Fiji's currency structure and designs over a 10-year period to ensure its relevance and integrity is maintained.

The last such review was commissioned in 1990 and completed in 1995 and received Cabinet approval for the introduction of a $50 denomination; coining of the $1 note saqamoli and modification of designs for the reverse of new currency notes.

February 2, 2005

Fiji Times Online: http://www.fijitimes.com.

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