Today, the single currency is used in an area that stretches from Cyprus to Ireland and from Portugal to Finland. As you know, the euro cash did not enter into circulation until 1 January 2002, when it replaced the banknotes and coins of the national currencies like, in the case of Spain, the peseta.
We find polymer banknotes more cost-efficient, more durable and last longer, especially in our humid PNG climatic conditions. The new Five Kina polymer banknote to be launched this afternoon is the last denomination to be converted and completes the series of polymer banknotes. Advanced security features are incorporated in the latest series of our banknotes as protection against counterfeiting.