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U.S. Ambassador Tony Garza remarked on the new $20 bill that is being released today in Mexico: “Americans and Mexicans share more than just a border; we share the future and hardworking Mexican men and women look towards that future every day. Our economic futures are also linked. In the first six months of this year, Mexicans sent a record-breaking US$6.13 billion dollars back to their country. These remittances represent the hard work of family members and strengthen the future of ordinary Mexicans.
The U. S. Treasury and the Federal Reserve System are committed to improvements to safeguard these hard-earned dollars. The new $20 bill is more secure, safer and smarter; it includes state-of-the-art technology to protect against counterfeiting. Today we welcome the new face of Andrew Jackson.”
The new $20 note is the first in a series of newly designed bills that the United States government will issue. The $20 note includes new designs and security features to make the work of potential counterfeiters more difficult. New security features include color-shifting ink that changes from copper to green, a watermark that is part of the paper itself, and a security thread. Other new features include the background colors of green and peach, the two new symbols of freedom-the American eagle-and the expanded portrait of Andrew Jackson. Existing design features such as microprinted words, engraving details, and Federal Reserve serial numbers combined with the new features make the new bill more secure.
Although the redesigned face of Andrew Jackson appears today on the $20 bill, all notes-new and old-will be honored at their face value. No recall of old bills will take place. Mexican financial institutions have been involved in a public education campaign since 2002 to ensure the smooth transition to the new design. There is an estimated $5 billion of U.S. currency in circulation in Mexico and about 25 percent of the total U.S. currency worldwide is in Latin America.
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