which country use plastic currency instead of paper currency
@yugasini (12893)
Secunderabad, India
August 28, 2009 1:30pm CST
hi mylot friends,
i have heared about that one country using plastic currency instead of using paper currency,plastic currency will not torn and its life also very long than paper currency,why don't all countries does not use this plastic currency,can any body give answer to my question?
2 people like this
14 responses
@taztheone (1721)
• India
28 Aug 09
Hi, I just wanted to confirm one thing here. As far as I know there is nothing like plastic currency. Now Plastic Money means use of credit card& other card inorder to make transactions. Now All the country have currency made of paper because after all we are not going to keep them forever & every month the government Issues new notes replacing the old ones & its easy for the counting machines. Plastic currency or plastic money simply means money through cards. I am telling this because I worked for a bank & hence is aware of these.
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi taztheone,
thanks for the response,i do agree that plastic currency is other than credit/debit card,but i have seen the news of plastic currency some time back,have a nice day
@taztheone (1721)
• India
29 Aug 09
If its some time in the near future, I'm not so sure of, however even before there was talks for the same by Govt officials of some countries however later put down because of various reasons. Have a Lovely day
Happy lotting
@krupesh (2608)
• India
29 Aug 09
Hello taztheone,
Australia & some other countries are using plastic curencies as of now.You might have heard it wrong or read it wrong.Australia introduced it in 1988.But to totally replace the pape currency it took almost 8 years & finally it was replaced fully by 1996.
Prducing fake of that one is also difficult.So we will see only the plastic currencies in every country in the near future.
Note Printing Australia(part of the Reserve Bank of Australia) does the printing of plastic currencies.This company is the one which has printed plastic currencies for countries like Sri Lanka , New Zealand , Singapore ....etc..
@boisson (256)
• Hong Kong
29 Aug 09
In Hong Kong, we are already beginning the transition from Paper to Plastic. - However, it's costly to make and so, at the moment we're only minting plastic ten dollars (Approx. USD 1.4). And anyway, trees are a sustainable resource. Oil isn't as sustainable as it takes millions and millions of years to create (:
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi boisson,
thanks for the response,so Hongkong also plastic money is there,we can save plants with this we can also save the environment,have a nice day
@boisson (256)
• Hong Kong
2 Sep 09
Well, depends on your point of view (:
In the short run, not having trees may seem like a giant ecological disaster, but if you consider the fact that a single tree can produce more than 90000 pieces of A4 Size paper, then you'll see that it isn't that much (:
On the other hand, plastic uses up oil, and just really gets everything into a mess.
@aerous (13434)
• Philippines
28 Aug 09
Hello my dear friend, I don't know if there is a country using plastic as there currency.
I don't think also if that currency is acceptable for the International Monetary fund or most of all to the people around the world.
If for example you go to that country and give you a salary that is plastic are agree on that and what will be the value?..lol
have a nice day!
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi aerous,
thanks for the response,what is that instead of paper currency ,we get plastic currency,have a nice day
@krupesh (2608)
• India
28 Aug 09
I think it was Australia which first introduced the plastic currency.Brazil, Sri Lanka, Romania, New Zealand, and Northern Ireland were the others to follow suit.Now the Indian Government is also thinking of introducing plastic currency instead of paper currency as India is overflowing with fake currencies.
The problem is that every paper currency should should be replaced by the plastic currency.It should be done in phases & it would take a lot of time.For Australia it took almost 8 years to completely introduce the plastic notes.Just think of India.With these kind of politicians & bureacrats in our country can you expect them to do it fast?
USA will also introduce may be in the near future as it has already run a test trial.
Hoping for a change from India.
@sblossom (2168)
•
28 Aug 09
It's a better solution, but not very good. I think better to develop electroniacal trade technology in the world. So we just use one card to trade around. it's safe and easy.
we don't need to take any cash with us, also don't need currecy exchange, all will done without any paper consumption and plastic.
however it's a interesting thing. if i visit these countries you mentioned i would like to try.
happy mylotting.
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi krupesh,
it is very interesting to have friendship with you,because you are the latest Almanac,we ;hope that India will also introduce the same in our country,have a nice day
@vinslounge (1295)
• India
29 Aug 09
The Indian government putforth a notice to consider the usage of semi plastic currencies in 2008 but still no concrete steps have been taken to implement that. The only country where the semi plastic currencies are being used is Australia and I think Brazil too is going to implement the usage of plastic currency. America is already condducting a trial run to introduce the plastic curency. With the Kind of Government and ministers we have, I do not think it is possbible in the near future to get the SEMI PLASTIC CURRENCIES Implemented and I am sure it'll take atleast a time span of 2 years for the currencies to be implemented in India.
@maggarita (1)
• United States
4 Nov 11
My mother is 91 and a staunch Baptist. If our government converted to plastic currency alone, she'd probably be hollering Armagheddon and "We're in our last days!"
@PinoyBPOJournal (143)
• Philippines
28 Aug 09
Plastic currency is still not used in my country but I think if not properly secured, is it prone to counterfeiting? I guess that is one reason why it is still not widely used and the old paper bills are still reliable, but that plastic currency is sometimes called the credit card.
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi pinoybpojournal,
thanks for the response,i do agree that plastic currency is other than credit/debit cards,but some time back i have seen some country is using plastic currency,i think it is Australia is it correct or not
@krupesh (2608)
• India
29 Aug 09
Hello PinoyBPOJournal,
Whatever technology or whatever things humans invent we try to improve on the shortcomings.The same thing is with plastic currencies.It is said that it cannot be counterfieted or a fake cannot be done.It is because of this we are hearing of plastic currencies.Old paper currency will be a thing of the past in the near future.
@sophie_dfuss (2365)
• Philippines
29 Aug 09
I agree with you that a certain country should use plastic money instead of paper money. We can also save trees if the money that will be produced is made up of plastic. I don't know why some country doesn't use plastic money but as I have observed, those countries have very good economy. I have travelled to other countries and use a lot of those plastic money while I am there either for business or vacation. Some countries that I know using plastic money are Malaysia, Singapore, Hong Kong and Australia.
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi sophie,
thanks for the response,yes we can save the environment by saving trees,which are used to make paper for currency,so all countries should follow this in future,have a nice day
@Buchi_bulla (8298)
• India
29 Aug 09
It is a good suggestion. The other day I opened my hundi box (where prayed money is kept) in the God's rack and one 10 rupee note has literally torn into pieces. If it was plastic money, it would not have been. May be our Central Government will think over to shift to plastic money.
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi Buchi_bulla,
thanks for the response,your desire will may consider by the central govt.,have a nice day
@ptrikha_2 (47083)
• India
15 Oct 19
In India too, I think we are now using plastic partially but I need to check.
@PeacefulWmn9 (10420)
• United States
29 Aug 09
Hello Yugasini. In the US, we refer to credit and debit cards as "plastic money." I am not aware of other kinds of money made of plastic. So I will be interested in seeing the responses you get here, as I might learn of another kind of plastic currency!
Have a wonderful day and night.
Karen
@lelin1123 (15595)
• Puerto Rico
28 Aug 09
I have never heard of plastic currency. Who uses this type of currency? The reason maybe because its more difficult to make then the paper currency.
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi lelin,
thanks for the response,Australia has released the plastic currency first time in the world and few other countries followed it,you can find the information about the more plastic currency in this responses
@shantha_45 (332)
• India
28 Aug 09
Hello It is really a very interesting question.
As you have said paper money become very old
after usage for some time.After a certain time
nobody accepts them. If they are torn it is a gone case.
So having plastic money is welcome so it will last for a long time
Happy mylotting
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi shantha
thanks for the response,you can find the plastic coated paper currency at Australia
if you wish you can collect it and can add to your collection,have a nice day
@nathanmani1946 (49)
• India
29 Aug 09
It will be a useful one having a currency made up of plastic. The vital thing is that it cannot be torned or squashed. Moreover no body can write anything on the currency as they like. The smallest country in the world, Singapore is using plastic currency.
@yugasini (12893)
• Secunderabad, India
29 Aug 09
hi nathanmani,
thanks for the response,plastic money durability is is more than 10 times to paper money,plastic money will not be mutilated easily and it cannot be spoiled by writing some thing on the plastic money,it can be wiped out,have a nice day
@yugasini (12893)
• Secunderabad, India
30 Aug 09
hi levyx,
thanks for the response ,Australia is the first country to introduce plastic currency and some other countries follow the same,you can find the details in other friends responses,have a nice day