The RBA has begun isolating banknotes to limit spread of coronavirus
The Reserve Bank of Australia has begun quarantining banknotes as part of national efforts to limit the spread of coronavirus. Here’s how they do it.
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The Reserve Bank of Australia has begun quarantining banknotes as part of national efforts to limit the spread of coronavirus.
The nation’s central bank has joined its global counterparts including those in coronavirus hot spots such as China and Korea in taking measures to limit the spread of COVID-19 via banknotes.
As well as isolation measures, China and Korea have used ultraviolet light to disinfect banknotes in a bid to help slow the spread of the virus.
China’s central bank has also gone so far as to destroy banknotes collected from hospitals, buses and wet markets in regions which are virus hot spots.
An RBA spokeswoman said there were no plans to disinfect or destroy Australian banknotes because of coronavirus.
Instead, it will store all banknotes returned to it by retail banks for several months to ensure any contamination dies before they are returned to circulation.
“Banknotes which are received by the RBA are either no longer fit for circulation and are destroyed, or they are surplus to current needs and will be placed in storage for some months before being redistributed,” the RBA said in a statement to the Herald Sun.
“We have made a small operation adjustment to ensure returned banknotes will be in storage for longer than the period of time that studies suggest coronavirus can persist on a surface.”
The RBA said it was “closely monitoring” demand for cash and “stand ready to supply banknotes as required”
It also urged Australians to exercise “good hygiene” when handing cash, repeating advice issued by the World Health Organisation.
“A banknote should be treated just like any other surface,” it said.
“We advise practising good hygiene … this includes washing your hands and avoiding touching your eyes, nose and mouth.”
The central bank, which operates the National Note Processing and Distribution Centre, has also taken action to reduce risk to staff by storing incoming banknotes for a period of time before employees need to handle them.
The centre is responsible for storing banknotes surplus to current demand and destroying damaged notes.
“There is a time lag when processing circulating banknotes that are returned to the Reserve Bank,” it said.
“Given the high volume of banknotes that our staff handle, we are taking a conservative approach and ensuring that this lag exceeds the period of time that studies suggest coronavirus can persist on a surface.”
A number of businesses in the US and France have stopped accepting cash – requiring shoppers to use contactless payment technologies – while at least one business here, a newsagency in Toorak, has done the same.
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