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Japan Cash Demand Increases

Banknotes, Currency, NewsBy SMI 09/01/2014

It is known by many that Japan is a country which is very technically advanced. Cashless payments are commonly used in daily transactions and it would appear that Japan could be the ideal “Cashless Society”. Except it’s not. Total currency in circulation at the end of 2013 rose to Y90 trillion (US$860 billion) in Japan,…

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Cleaning Dirty Money

Banknotes, News, TechnologyBy SMI 08/01/2014

A study titled “Supercritical Fluid Cleaning of Banknotes” has been published in the Industrial and Engineering Chemistry Research journal, where scientists claim they have created a method to “remove human grease, microbes and motor oil” from banknotes using supercritical fluid (“substances that maintain liquid and gas properties through manipulation of their temperature and pressure”). The…

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Sri Lanka Coin Shortage

Coin, NewsBy SMI 06/01/2014

The Central Bank of Sri Lanka has recently said that around 22 tonnes of their rupee coins are currently in India, having been left in religious places such as temples, churches and kovils. Sri Lankans on religious pilgrimage leave the coins as offerings, as well as items such as food, flowers or incense. However, the…

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Latvia Joins Euro

Currency, NewsBy SMI 01/01/2014

At midnight on the 1st January 2014, Latvia became the 18th country to join the euro currency. The changeover has caused a mixture of emotions, with some opinion polls suggesting almost 60% of the population did not want to move to the euro currency. However, business owners as well as the government believe it will…

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Bitcoin Value Sinks Amid China Restrictions

Cashless Payments, News, TechnologyBy SMI 19/12/2013

BTCChina, China’s biggest Bitcoin exchange, has stopped accepting deposits in Chinese yuan. According to the company, the People’s Bank of China has spoken to a number of payment processors in China asking them to stop trading with Bitcoin exchanges by January 1, 2014. The BTCChina website posted the following note yesterday: “Dear BTC China users:…

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Bank of England Confirms Polymer Banknotes

Banknotes, NewsBy SMI 18/12/2013

A press release issued today by the Bank of England has announced that polymer £5 and £10 banknotes will be issued from 2016. The new notes will use similar designs to the existing £5 and £10 banknotes currently in circulation – including similar colour schemes as the previous notes and a portrait of Her Majesty…

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