Australia was the first country to issue a full series of polymer banknotes in 1996. After 25 years, issuance of the second generation of polymer banknotes is well advanced. The Reserve Bank of Australia therefore revisited the financial savings resulting from the switch to polymer. Employing a cost-benefit analysis framework, it found that the switch to polymer resulted in net savings of close to AUD1 billion over the past 25 years in inflation-adjusted terms.
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