Central Bank of Seychelles to Issue Updated R500 Banknote in December

VICTORIA, Seychelles — The Central Bank of Seychelles (CBS) has announced that an updated version of the R500 banknote will come into circulation in December 2025. The new note is being introduced to replace a discontinued security element on the existing R500 banknote, which was first released in 2004.

CBS second deputy governor Mike Tirant, speaking at a press conference at Unity House on Thursday morning, said the bank must ensure a steady and secure circulation of notes and coins in the country. ‘To produce the notes and coins that we use in circulation, the CBS has to use overseas suppliers that specialise in this domain. Following the decision of one of the companies who produce our notes to stop producing a specific security element on the R500, CBS will therefore not be able to continue printing this note and circulating it in its actual form,’ he said.

Mr Tirant added that the new R500 will retain its familiar design and feel, while incorporating the updated security features to keep it in line with international standards. The CBS will work closely with commercial banks, retailers and the wider public to ensure a smooth transition when the new note enters circulation.

The central bank is expected to release further details in the coming weeks, including the exact launch date in December, the design changes and the duration of the parallel circulation of the existing and updated R500 notes.