EDITOR, The Tribune.
I am delighted that Sir Arthur’s image will adorn our one hundred dollar currency note, but wondering why we have never taken that next little step and issued a Five Hundred Dollar note.
Since 1966 when The Bahamas moved from Sterling to Dollars, the average inflation rate between then (1966) and today of 3.95% speaks eloquently to the wisdom of doing this. The buying power of $100.00 in 1966 is the equivalent of about $838.57 today.
We have, of course, reconciled ourselves to the obsolescence of a penny and done away with it. If one goes to an ATM today to withdraw more than a couple of hundred dollars it sounds like one armed bandit with a short circuit.
And as long as we are still in the British Commonwealth, and as long as Her Majesty is still our Head of State, perhaps we could have her face continue to grace us on the new $500.00 note.
What say you Governor Rolle?
With best regards,
BRUCE G. RAINE
Nassau,
August 12, 2021
Comments
JokeyJack 2 years, 8 months ago
Bahamians generally don't believe Her Majesty is Head of State, but of course Bahamians also generally don't read.
rodentos 2 years, 8 months ago
because all over the world there is a pressure on citizens to use only electronic money... in EU they have withdrawn the 500€ note, which is of course dumb because taking the inflation into account they had to issue a 1000€ or even 2000€ note!
Allways the same "arguments"... mone laundering and terrorism! (but so far eg in the EU noone can provide any proof that terrorists use 500€ notes).
The only country against this trend is Switzerland, they still have their 1000CHF note. (and of course all the hyperinflation countries, will 1 billion notes etc)
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