Australia’s $2.3 billion typo: Currency notes printed with this error

By: |
Published: May 10, 2019 2:16:16 PM

It took more than six months to spot the typo in Australia’s most-widely used currency A$50, which came into circulation with new security features in October last year.

RBA accepts responsibility for typo in A yellow and green note

It took more than six months to spot the typo in Australia’s most-widely used currency A$50, which came into circulation with new security features in October last year. The erroneous bank notes are in huge numbers of around 46 million and have been in circulation since October last year. The notes with the embarrassing typo are worth 2.3 billion Australian dollars, or 1.6 billion US dollars. The millions of new yellow and green notes carry the word “responsibility” as “responsibilty”. The Reserve Bank of Australia admitted to the typo and said the mistake would be rectified in the future print runs.

The A$50 features Edith Cowan on one side and on the other side it has a portrait of distinguished indigenous author David Unaipon.The new A50$ has multiple security features including the maiden speech of Edith Cowan, first female member of the Australian parliament, which looks like a lawn in the background of Cowan’s portrait.

The quote carrying the word with missing “i” has been repeated several times in microscopic print. Cowan in her inaugural speech had said, “It is a great responsibility to be the only woman here, and I want to emphasise the necessity which exists for other women being here.”

However, it’s not easy to decipher the Cowen’s speech with naked eyes. It can only be read by magnifying glasses and that could be the reason that the goof-up easily escaped everybody’s notice.

This is not the first time when any country made an embarrassing mistake like this, earlier in 2005, the central bank of the Philippines had misspelled the name of then-President Gloria Macapagal Arroyo on the 100 peso notes at the time of Christmas. Unfortunately, they had spelled his last name as “Arrovo” instead of “Arroyo”. However, the central had to declare the notes legal tender and asked the public to treat erroneous notes as a collectors’ items.

Do you know What is Wholesale Price Index (WPI), Public Debt, Finance Commission Grants & Other Transfers, Economic Survey, State Finance Commission? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.