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Trinidad & Tobago changes coin composition, drops 1 cent coin

Coin, NewsBy SMI 25/07/2017

On 1 July 2017, the Central Bank of Trinidad & Tobago began re-issuing new 5, 10 and 25 cent coins having changed their metal composition, and it has also dropped the 1 cent coin. The new coins are manufactured using more cost effective metals to help make savings for the Central Bank of Trinidad & Tobago, estimated to…

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 From Monday 13 March 2017, all cash withdrawal limits from Savings Bank accounts were withdrawn, allowing the citizens of India to withdraw cash freely.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…

Venezuela starts to issue new banknotes

Banknotes, NewsBy SMI 17/01/2017

Venezuela has issued three denominations of their new banknote series, in response to the country’s soaring inflation. On 16 January 2017, the Banco Central de Venezuela, the country’s central bank, began circulating the new 500, 5,000 and 20,000 bolivar banknotes. The paper banknotes include electrotype watermarks, UV features, anti-copier line structures, micro text, windowed security thread, magnetic security features,…