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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.

Hungary to issue new banknote series by 2018

Banknotes, NewsBy SMI 02/09/2014

It was announced on Monday 1st September that the Magyar Nemzeti Bank (National Bank of Hungary) intends to issue new designs of banknotes into circulation by 2018. The 10,000 forint banknote is the first note to be re-designed and was released into circulation today. The old 10,000 forint note will continue to circulate for the…

Bulgaria to replace 2 leva banknote with coin

Banknotes, Coin, Currency, NewsBy SMI 01/09/2014

According to local news reports, the Bulgarian National Bank will replace the 2 leva banknote with a 2 leva coin in 2015. The coin will be bi-metal – 2 metals of different colours (similar to the 1 lev coin) but with a yellow/gold centre and white/silver ring. The 2 leva coin will be slightly larger…

Nanotech Security acquires Fortress Optical Features

News, TechnologyBy SMI 26/08/2014

Nanotech Security Corp. has today announced that it has made an agreement to purchase 100% of Fortress Optical Features Ltd, who produce optical thin film used as banknote security threads. Vancouver based Nanotech, which designs and manufactures nanotechnology for use in anti-counterfeiting and authentication products, has made the agreement with Fortress Global Securities Sarl, a…

Lithuania: Preparing for the euro

Currency, NewsBy SMI 22/08/2014

Lithuania will begin using the euro from 1st January 2015. In preparation for the new currency, the Bank of Lithuania has signed an agreement with the German Central Bank – Bundesbank – regarding the acquisition of euro banknotes in all denominations. Chairman of the Board, Vitas Vasiliauskas, from the Bank of Lithuania stated: “We will…

Bank Indonesia plans to redenominate banknotes

Banknotes, Currency, NewsBy SMI 21/08/2014

According to an article published by the Jakarta Post, the Indonesia’s Central Bank – Bank Indonesia – plans to change the denomination structure of their banknotes by removing three zeros from the Indonesian currency. The plans for the Redenomination Bill are being discussed by the House of Representatives, the government and the Central Bank, with…

Cuba to issue new high denomination banknotes

Banknotes, Currency, NewsBy SMI 21/08/2014

According to local news reports, the Central Bank of Cuba plans to issue new designs of the top three denomination banknotes – the 20, 50 and 100 peso notes. The new notes will incorporate additional security features to help reduce counterfeiting, notably an additional watermark, and will be dated 2014. All notes currently in circulation…

Reserve Bank of India to issue new ₹1,000 banknote

Banknotes, Currency, NewsBy SMI 15/08/2014

The Reserve Bank of India has issued a statement declaring that a new ₹1,000 denomination banknote will be released shortly. The statement, dated August 14th 2014, advised the new notes will incorporate the new Indian currency symbol (₹) with “R” inset letter in the Mahatma Gandhi Series-2005. The printing year ‘2014’ will be displayed on …

Bank Indonesia issues new Rp. 100,000 banknote

Banknotes, NewsBy SMI 15/08/2014

A press release from Bank Indonesia details the release of a new 100,000 rupiah banknote issued into circulation. The release, dated 14th August 2014, announced that the new note will be circulated from 17th August 2014. There are no major changes with the design compared to the previous version, but it now includes the phrase…

New Iraqi 10,000 Dinar banknote

Banknotes, NewsBy SMI 08/08/2014

The Central Bank of Iraq has released a statement confirming the release of a new 10,000 Dinar banknote, dated 7th August 2014. The banknote will include new security features in addition to the ones incorporated in the previous banknote design. The Central Bank advises that this will also occur to other banknotes within its series…

SICPA completes acquisition of Cabot Securities

News, TechnologyBy SMI 01/08/2014

Cabot Security Materials Inc. (CSMI) closed the sale of its Security Materials business yesterday to security inks specialist SICPA SA for approximately $20 million in cash consideration. Cabot president and Chief Executive Officer said: “We are pleased to have completed this transaction at an attractive value for our shareholders” “SICPA is a leading player in…