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A billion-dollar typo & it stays in Oz's pockets

NEW DELHI: A red-faced central bank of Australia admitted to an embarrassing error on Thursday — its cutting-edge $50 notice released in October ultimate yr has a typo. That after 46 million of $50 notes (value $2.3 billion) have already been circulated with the typo. The A$50 currency is essentially the most extensively circulated in Australia and accounts for almost part the whole price of other banknotes in use, in keeping with the Reserve Bank of Australia (RBA).

Whose 'responsibilty'? The new notice, which has a bunch of security features to forestall counterfeiting and comprises microprint of a speech by means of Australia's first female parliamentarian, Edith Cowan, misspells the phrase 'duty'. "I stand here today in the unique position of being the first woman in an Australian parliament. It is a great responsibilty," the text reads, lacking an "i". Cowan served as the primary woman elected to an Australian legislature from 1921 to 1924.

The typo seems in an excerpt of Cowan’s maiden speech to Western Australia’s parliament, which features at the A$50 notice. The yellow and inexperienced notice got here into circulation on October 18, 2018 with new security features designed to discourage counterfeiting and with tactile components for the visually impaired.

It's here to stick: The script is simply legible to the bare eye and the Reserve Bank of Australia has no plans to tug the notes from circulation. The spelling might be corrected on the subsequent print run, it says. Australia used to be the primary country to use polymer banknotes, which have greater sturdiness in comparison to paper notes, because of this the existence of these banknotes might be long.

“The error is being corrected as a part of an ordinary print run so there's no additional cost,” the bank mentioned in a statement. “We aren't chickening out or recalling banknotes with the spelling error," it added. A bank representative used to be quoted arguing that mistakes happen, in keeping with the Australian Broadcasting Corporation.

The admittedly tiny mistake, at the new A$50 notice, got here to gentle this week after any individual noticed the typo and alerted a radio station to the problem.

(With company inputs)

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