Pakistan 10 banknote

Pakistan’s circulating currency doubles within 5 years

Currency, News

According to a report by online news source the Pakistan Tribe, Pakistan’s currency in circulation increased from Rs 1,224 billion to Rs 2,500 billion between 2009 and 2014, an increase of 104%. The State Bank of Pakistan’s (SBP) Deputy Governor of Operations, Mr Kazi Abdul Maktadir, discussed Pakistan’s rising currency in circulation during the Conference…

EU flag

Bundesbank records 63% rise in counterfeit banknotes

Banknotes, Coin, Currency, News

Germany’s Central Bank, The Deutsche Bundesbank, has released their 2014 counterfeit banknote statistics which shows a large increase in comparison with 2013. The number of counterfeit banknotes removed from circulation during 2014 by banks, retailers and police authorities totaled 63,000 notes, with a nominal value of €3.3 million, a 63% rise compared to 2013. Though…

Cuba issues new high denomination banknotes

Banknotes, Currency, News

From the 1st February 2015, the Central Bank of Cuba will issue new denomination banknotes, 200,500 and 1000 pesos, into circulation. The aim is for the new high denomination banknotes to ease economic transactions, as currently the highest denomination banknote is the 100 peso note. All three notes will have the same dimensions, 150 x…

Euro currency

Lithuania joins the euro

Banknotes, Coin, Currency, News

The new year brings a new currency for Lithuanians, as, on the 1st January 2015, Lithuania became the 19th member of the euro currency area, replacing the previous Lithuanian litas currency to the Euro at an exchange rate of €1= LTL 3.45280. Lithuanians have 2 weeks to continue paying for items using Lithuanian litas, but…

Russia to issue Crimea commemorative banknote

Banknotes, Coin, Currency, News

A report by The Moscow Times, states that Russia’s Central Bank is to release a 100-ruble banknote commemorating the annexation of Crimea from Ukraine. The banknote is currently being designed and the artwork is yet to be made public. This follows the release of two 10-ruble coins which feature Crimean landmarks – one a Crimean castle and…

Mobile payments

Rwandans advised to use less cash

Banknotes, Coin, Currency, News

According to an article by the Rwandan news agency The New Times, Rwandans have been advised to use less cash in their daily transactions to help minimise banknote wear and tear. John Rwangombwa, Governor of the National Bank of Rwanda, is promoting the use of cashless payment methods, such as electronic cards, and mobile phone…

Cuba to issue new banknotes

Banknotes, Currency, News

According to various news reports, the Central Bank of Cuba (Banco Nacional de Cuba) has announced that it will be introducing new security features to its banknotes as part of its monetary reform. The denominations affected will be the 20, 50 and 100 pesos and will notably have an updated watermark image.   Source: CubaSi

New Zealand reveals new banknote designs

Banknotes, Currency, News

The Reserve Bank of New Zealand has unveiled designs for their next series of banknotes. Named “Brighter Money”, the new notes use bright colours in their designs and will also incorporate modern security features whilst continuing to use polymer substrates. The Bank states that the new banknote series will continue to use the same denominations,…