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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.

Call to ban high value banknotes

Banknotes, NewsBy SMI 08/02/2016

Former Chief Executive of Standard Chartered Bank, Peter Sands, has called on Central Banks to stop issuing high value banknotes in order to tackle crime. A report by Mr Sands produced for the Harvard Kennedy School, has highlighted the use of such banknotes by “terrorists, drug lords and tax evaders”, “The scale of such illicit…

New Philippine 100 Piso banknote

Banknotes, NewsBy SMI 30/01/2016

The Philippine’s Central Bank, The Bangko Sentral ng Pilipinas, has confirmed that a new 100-Piso banknote will begin circulating from the 1st February 2016. The note has been designed with a stronger mauve or violet colour compared with the existing banknote, to make it more distinctive. This, says the Central Bank, follows calls from the…

India to issue upgraded ₹100 and ₹500 banknotes

Banknotes, NewsBy SMI 23/01/2016

The Reserve Bank of India (RBI) has issued press releases confirming that new ₹100 and ₹500 banknotes are soon to be issued. The new notes will still form part of the Mahatma Gandhi series (2005) and will be similar in their design to their predecessors. The new banknotes will have numerals of ascending size in…

Argentina to issue higher denomination banknotes

Banknotes, Currency, NewsBy SMI 18/01/2016

Argentina’s Central Bank said on Friday that it would issue higher denomination banknotes during the next two years, addressing rising inflation rates within the country. The highest banknote is currently the 100 peso note, but the Central Bank of Argentina aims to start circulating new 200 and 500 peso banknotes by the end of 2016…

Royal Canadian Mint sells MintChip™ to nanoPay

Cashless Payments, News, TechnologyBy SMI 13/01/2016

Toronto based payments company nanoPay have acquired the digital currency platform MintChip™ from the Royal Canadian Mint. MintChip™ is “a digital replacement for cash” and, the company says, with backing from the Government of Canada, is the first regulator-friendly digital cash platform. “As a digital payment technology with many of the attributes of cash, MintChip™…

Ukraine presents new 500 hryvnia banknote

Banknotes, NewsBy SMI 04/01/2016

On 25th December 2015 the National Bank of Ukraine presented the new 500 hryvnia banknote, which is to enter circulation on 11 April 2016. The 500 denomination is the latest to be revealed, as part of a project launched in 2012 to revamp all note denominations released between 2003 and 2007. “The main reason behind…

M-Pesa expands coverage to Uganda

Cashless Payments, News, TechnologyBy SMI 30/12/2015

A press release by Safaricom has announced that Kenyan M-Pesa users can now send funds to recipients in Uganda thanks to a partnership with mobile operator MTN. M-Pesa is a mobile phone based money transfer service which was launched in 2007 by Vodaphone for Safaricom and Vodacom – the largest mobile telecommunication services in Kenya…

Israel issues new 200 shekels banknote

Banknotes, NewsBy SMI 24/12/2015

The Bank of Israel has released the next denomination in its new banknote series, the 200 shekels banknote. Yesterday, the Bank issued a press release advising that the new 200 denomination was being distributed to the public via commercial banks, ATMs and the Israel Postal Company. It is the second denomination of the ‘Series C…

Zimbabwe makes Chinese yuan legal currency

Currency, NewsBy SMI 23/12/2015

According to online news sources, Zimbabwe has announced that it will make the Chinese yuan legal tender following confirmation that China would cancel $40 million in debts. During a statement by the country’s minister Patrick Chinamasa regarding the debt cancellation, it was advised that Zimbabwe would start using the Chinese yuan as it seeks to increase trade…

Bolivia upgrades 200 boliviano banknote

Banknotes, NewsBy SMI 18/12/2015

The 200 boliviano banknote has been upgraded by the Banco Central de Bolivia, the country’s central bank. The latest upgrade of the boliviano banknote is part of the new “J” series of banknotes from Bolivia. The 200 boliviano banknote was first issued in 1987 and was last upgraded in 2005. The upgraded paper banknote includes a 4mm wide…