RBA hands government $1.7b dividend as new notes hits counterfeiters

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The Reserve Bank has delivered the Morrison government almost $1.7 billion in dividends to help the budget bottom line on the back of its fourth largest ever trading profit

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After the 2018-19 dividend, the RBA has now returned that $8.8 billion payment via dividends although taxpayers are still footing the bill for outstanding interest on the bonds issued by the government to cover the cash. The most common counterfeit remains the $50 note with 10,402 across the country found. A new version of this note was released in October 2018. The $100 note is the second most commonly counterfeited with 6522 of them found.

The bank said even though more people were using non-cash payment systems, the demand for notes continued to grow.

 

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