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SMI is the acknowledged world leader in the provision of independent technical & commercial expertise to the currency industry. Founded in 1994, SMI consultants each have many years’ experience working in the currency industry, and consequently have extensive knowledge and understanding of all aspects of the banknote and coin markets, offering consultancy services on a range of issues related to the security, manufacture, issue, circulation and management of physical cash in the economy.

Landqart expands Durasafe® customer base

Banknotes, NewsBy SMI 20/03/2017

Fortress Paper Ltd has announced that its wholly-owned subsidiary, Landqart AG, has entered into an agreement with a fourth customer to use its banknote substrate, Durasafe®. Details of the new customer have not yet been made public, but they join the list of countries using Durasafe® within their banknotes – namely Morocco, Kazakhstan and Switzerland. Durasafe® is a banknote paper…

Cash rationing ends in India

Banknotes, Currency, NewsBy SMI 15/03/2017

India’s citizens are now able to make unrestricted cash withdrawals, ending the period of cash rationing imposed on the country by Prime Minister Modi. From Monday 13 March 2017, all cash withdrawal limits from Savings Bank accounts were withdrawn, allowing the citizens of India to withdraw cash freely. The country has been through a period of demonetisation whereby the ₹500…

UAE opens its first banknote printing plant

Banknotes, NewsBy SMI 13/03/2017

The UAE opened its first banknote printing plant, the Oumolat Security Printing LLC, on Saturday 11 March 2017 by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai. The new UAE banknote printing plant is located in the Khalifa Industrial Zone in Abu Dhabi and aims to provide printing services for central banks across the Middle East. Historically,…

Ghana issues commemorative 5 cedi banknote

Banknotes, NewsBy SMI 06/03/2017

The Bank of Ghana has issued a 5-cedi banknote to commemorate the Central Bank’s 60th anniversary. The design of the new banknote continues to use a predominantly blue colour scheme, but incorporates illustrations of Dr. James Kwegyir Aggrey, the famous educationist and missionary who died in 1927. The banknote includes a number of new security features…

Uzbekistan issues new high value banknote

Banknotes, NewsBy SMI 06/03/2017

The Central Bank of the Republic of Uzbekistan will issue a new high value 10,000-som banknote into circulation on 10 March 2017. The new note joins the country’s banknote family consisting of the 25, 50, 100, 200, 1,000 and 5,000-som denominations. The 10,000-som note is currently valued at around US $3. Banknote features The paper…

Hungary upgrades 2000 and 5000 banknotes

Banknotes, NewsBy SMI 02/03/2017

The Central Bank of Hungary has released upgraded versions of the 2000 and 5000 banknotes into circulation including advanced security features. Each note has a date of issue of the 15 November 2016, though they actually began circulating on 1 March 2017. The Central Bank, the Magyar Nemzeti Bank, will withdraw the previously circulating versions of each denomination from circulation by…

Australia reveals design of new $10 banknote

Banknotes, NewsBy SMI 20/02/2017

The Reserve Bank of Australia has revealed the design of the new $10 banknote due to be issued in September 2017, part of the Next Generation series of banknotes. Images released by the Central Bank show the basic design artwork on the front and back of the soon to be released banknote. The design of the…

Papua New Guinea resizes banknote family

Banknotes, NewsBy SMI 20/02/2017

A public notice has been issued by the Bank of Papua New Guinea informing citizens that the K5 banknote has been resized as part of the banknote reform to differentiate between denominations. Papua New Guinea’s Central Bank has issued a public notice advising its citizens that a new K5 banknote was issued into circulation on 3 January…

Oberthur looks to acquire Arjowiggins VHP paper plant

Banknotes, News, TechnologyBy SMI 17/02/2017

Oberthur Fiduciaire has entered into exclusive negotiations with Arjowiggins Security to acquire their VHP banknote paper production plant in the Netherlands. The VHP plant in Apeldoorn, Holland, manufactures banknote paper, such as that used for the euro currency, with an annual production capacity of around 6,500 tonnes. It employs around 130 staff. Arjowiggins Security’s parent company,…

Bank of England keeps animal fat tallow banknotes

Banknotes, News, TechnologyBy SMI 16/02/2017

The Bank of England has issued a statement confirming that it will continue to use polymer banknotes that contain tallow, a substance made from animal fat, until an alternative can be sourced. The polymer New Fiver banknote was issued by the Bank of England in September last year, but news that it contained trace elements of tallow – an animal…