The recent unveiling of a new EC$2 commemorative polymer banknote by the Eastern Caribbean Central Bank (ECCB) featuring cricket legend Sir Vivian Richards could foreshadow the removal of the British monarch from banknotes used across the Eastern Caribbean.
The new $2 note is being released as part of the ECCB’s 40th anniversary celebrations. It marks the first time reflective silver ink, gold iridescent ink and a holographic blue foil have been used together on a banknote in the world.
However, more significantly, it depicts Sir Vivian Richards rather than Queen Elizabeth II or King Charles III. This has sparked speculation that when the ECCB eventually upgrades other denominations, the monarch could be replaced on those as well.
In July 2023, the ECCB Monetary Council approved removing the image of the Queen from Eastern Caribbean banknotes. A public consultation process was launched, with a final decision to be made by February 2024 on a new visual identity for the regional currency.
ECCB Governor Timothy Antoine previously told the press that there appears to be little appetite in the Caribbean to keep the British monarch on the money. He indicated the preference is to replace the royal portrait with more culturally relevant icons from the region itself.
The commemorative $2 banknote prominently displaying a legendary West Indian cricketer seems to validate Antoine’s assessment. It could very well set the tone for a completely redesigned series of Eastern Caribbean dollars without the monarch.
The banknote redesign would affect the currency used by ECCB members Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines. As well as Anguilla and Montserrat which also utilize the Eastern Caribbean dollar.
