Millions of $50 notes carry typo

Millions of $50 notes have been printed with the word "responsibility" spelt incorrectly.

A batch of new $50 notes have been issued with the word 'responsibility' spelt incorrectly. (AAP)

Millions of $50 notes are circulating through Australia with a tiny error in the fine print.

The Reserve Bank of Australia has confirmed the word "responsibility" was misspelt on hundreds of millions of notes before they entered circulation, including a batch of about 46 million new notes printed last year.

The word "responsibility" is misspelt as "responsibilty" three times in an excerpt from Edith Cowan's maiden speech to the West Australian parliament in 1921.

"We have printed around 400 million $50 banknotes with this error on it," an RBA spokeswoman said on Thursday.

"However, it is likely that many of these banknotes will be stored for contingency purposes."

The notes are still valid, legal tender, and will continue to be issued and stay in circulation until reaching their standard end of life.

They feature Indigenous writer and inventor David Unaipon on one side, and Ms Cowan, Australia's first female member of a parliament, on the other.

The error will be corrected at the next print run.