ICCOS Asia is Back

The Asia Cash Cycle Seminar returns to its live and in person format, after a three-year hiatus, taking place 5-7 September in Manila, 10 years after it was last held in the Philippines.

Events - June 30, 2022 12:01 a.m.

Steady Progress by the Bank of England

The Bank of England has issued its Annual Report for 2022. The key themes relating to banknote issuance and management were the completion of the polymer series of banknotes with the issuance of the £50 banknote, actions to safeguard access to cash and deposit services and the environmental impact of banknote operations.

Central Banks - June 30, 2022 midnight

Counterfeiting in Australia

Counterfeiting of Australian banknotes is approaching its lowest level in a decade. The Reserve Bank of Australia (RBA) has carried out an analysis of the factors playing a role in this decline and quantified their effects. The report – Recent Trends in Counterfeiting – has been published in its June Bulletin.

Counterfeiting - June 30, 2022 midnight

Currency and the Metaverse

Among the customary technical presentations and product launches at conferences, the one given by Komori at the recent Global Currency Forum on the topic of the metaverse was very much ‘out of the box’. Here Steve Craig of Komori explains what the metaverse is, and how Komori is looking at harnessing it for banknote production.

Technology - June 2, 2022 midnight

Unique 3D RELIEF Effects for Premium New Thread

Oberthur Fiduciaire has launched a technology for threads in the form of RELIEF™ – which offers striking bas-relief 3D effects in what the company terms a major advance in security features for threads and unlike anything else on the market.

Features - June 2, 2022 midnight

News in Brief

The official launch ceremony for a new security document printing facility has taken place in Entebbe in Uganda. It will be owned and operated by the Uganda Security Printing Company, which was set up in 2018 as a joint venture between the state-owned Uganda Printing and Publishing Corporation and Veridos, the German provider of integrated identity solutions.

News - June 2, 2022 midnight

Year of Pivot Pays Off for Royal Canadian Mint

2021 was a great year for the Royal Canadian Mint (RCM), despite the ongoing effects of the pandemic, with record sales, profits, and a healthy $78.9 returned to the Canadian government, compared with $20 million the previous year.

Coins - June 2, 2022 midnight

Move and Approve with Motus

A new security thread featuring micro-optics was launched at the Global Currency Forum by Portals. Called Motus, the thread is the first security product to be launched by Portals following its acquisition last year of the security features and thread business Fabriano from Fedrigoni.

Features - June 2, 2022 midnight

In Other News…

The Central Bank of the Republic of Argentina Argentina has showcased the designs of its new series of banknotes, in which the images of indigenous fauna and their habitats that feature on the current series will be replaced by famous Argentineans.

News - June 2, 2022 midnight

6th Coin Conference Goes to Amsterdam

After a three year gap, the Coin Conference returns this October to Amsterdam, in what will be the sixth edition of the event, and the only one of its kind to focus on coins as part of cash strategies in circulation from the perspective of currency issuers.

Events - June 2, 2022 midnight

Standing Secure with New Barbados Series

The Central Bank of Barbados has unveiled the designs of its new polymer banknote series, which will be introduced on 5 December, two days after it celebrates its 50th anniversary.

Banknotes - June 2, 2022 midnight

Cash and Payments: The Sustainability Forum

The inaugural Cash & Payments Sustainability Forum, which will take place 15-16 November in Scotland’s capital city, Edinburgh, will share best practice, promote cooperation and address specific environmental challenges and solutions in the cash and payments arena.

Events - June 2, 2022 midnight

Profits Up for De La Rue, Despite Headwinds

De La Rue’s sales fell marginally in 2021/22 – revenue (non IFRS) of £375 million and operating profit of £36.4 million were down 3.3% and 4.5% respectively on the previous year.

Companies - June 2, 2022 midnight

Spain’s New Printworks Complete – Machinery Moves In

The construction of the Banco de España’s new printworks for IMBISA just outside Madrid – the first new state-owned printing plant in the EU in over 50 years – has now been completed, and work has started on moving in the new equipment.

Central Banks - June 2, 2022 midnight

The Cash Industry’s Concerns – Then and Now

In his review of the Global Currency Forum, Wolfram Seidemann, Chairman of the ICA, compared the priorities of the cash industry in the past with today. Then, he said, the key priorities were security, efficiency and quality of notes is circulation. Fast forward several years, and the priorities look very different now.

Free - June 2, 2022 midnight

BP – A New Name in Banknote Paper

BP Security is the new name for the security papermaker in Brazil, the only one in Latin America capable of producing banknote-grade mould made paper, formerly owned by Fedrigoni.

Companies - May 2, 2022 12:01 a.m.

Interactive Features from IQ Structures

Following the return of in-person events, one company that has been prominent with its range of eye-catching optically variable features is IQ Structures, which specialises in lithography techniques, 3D nano-printing and industrial replication of nanostructured materials.

Features - May 2, 2022 12:01 a.m.

Crane – One Becomes Two

Crane Co – the US-based industrial products and processes conglomerate – has announced plans to separate the company into two independent publicly-traded companies.

Companies - May 2, 2022 midnight

In Other News…

The Central Bank of Tunisia has issued two new banknotes – the 5 and 50 dinars – which will co-circulate with the existing versions. The 50 dinar features the former Prime Minister, Hédi Nouira, and the 5 dinar a portrait of the engineer, agronomist and activist Slaheddine Amami.

News - May 2, 2022 midnight

Yet Another Award for Mexican Banknotes

The Banco de México has continued its award-winning streak with the International Bank Note Society (IBNS) Banknote of the Year award for 2021 for the 50 peso. It won the same award for 2020 for the new 100 peso. And both notes recently earned it the HSP Regional Banknote of the Year award.

Banknotes - May 2, 2022 midnight

Is a Fully Circular Approach to Banknotes Possible?

At the Banknote & Currency Conference in February, Swiss substrate manufacturer Landqart revealed new research it has been carrying out on how to dispose of banknotes at the end of their life in an environmentally sound way.

Sustainability - May 2, 2022 midnight

IGNITE-ing New Thread Possibilities

De La Rue launched the next effects in its IGNITE® thread portfolio at the Banknote & Currency Conference in February. IGNITE belongs to the fast-growing combinational thread category that is becoming extremely popular amongst central banks that issue paper banknotes.

Features - May 2, 2022 midnight

The Innovation Keeps Flowing

As described in the Banknote of the Month feature in the February issue of Currency News™, Kazakhstan’s new 20,000 tenge is memorable on a number of fronts – not least because the use of the Durasafe® substrate enabled the first ever application of a stripe in a vertical orientation, but also because it is the world’s first circulating note to incorporate SICPA’s new SPARK Flow® feature.

Features - May 2, 2022 midnight

New Cash Centre for DNB Next Year

De Nederlandsche Bank (DNB) is moving its gold vault and banknote activities from its head office in Amsterdam to Camp New Amsterdam in Zeist, and is making good progress on the project, which is due to complete next year.

Central Banks - May 2, 2022 midnight

SICPA Names New Campus for Economy of Trust

SICPA has unveiled the name for its new campus in Lausanne – unlimitrust. Formerly known as Square One, the aim of the new campus, the first of its kind, is to bring together diverse partners promoting the ‘Economy of Trust’, linking the security of the physical world with its digital counterpart in order to protect goods and people from the vulnerabilities created by today’s global digitalised economy and governance.

Companies - May 2, 2022 midnight

De La Rue Issues Trading Update

De La Rue has issued a trading update in which it said that it expects its full year operating profits to be in line with market expectations (these being based on the average published notes from Investec and Numis Securities). Net debt is expected to be slightly better than market expectations of £75 million.

Companies - May 2, 2022 midnight

G+D Reports One of Best Years in History

Giesecke+Devrient has described 2021 in financial terms as one of the most successful in its history. Sales of €2.38 billion were a 2.8% improvement on the previous year and almost back at the pre-pandemic levels of 2019.

Companies - May 2, 2022 midnight

News in Brief

The European Council has adopted a recommendation by the European Commission on the conversion of hryvnia banknotes into the currency of member states hosting people escaping the war in Ukraine.

News - May 2, 2022 midnight

Mint of Finland Returns to Profit

After several years of losses, the Mint of Finland has reported a significant increase in sales and return to profit for 2021. Consolidated revenue increased by 45% to €83 million, due largely to a good order backlog at the beginning the year.

Companies - May 2, 2022 midnight

Moving Sustainability Centre Stage

Across industry publications, conferences and reporting, sustainability now sits alongside other key topics such as security, technical excellence, efficiency, value for money etc. This industry has done a great deal of work and made a real difference in its operations across the key areas where it affects the environment.

Comment - May 2, 2022 midnight

MDC Online Bridges the Gap for Mints

The Mint Directors Conference is normally held every two years, providing an opportunity for discussions, information-sharing and debate within and about the industry.

Events - May 2, 2022 midnight

Uzbekistan – Great Silk Road Reflected in Designs and Threads

The Central Bank of Uzbekistan issued a new series last year, based on the theme of the ‘Great Silk Road’ – the network of trade routes which played a central role in facilitating economic, cultural, political, and religious interactions between the East and West.

Banknotes - April 2, 2022 12:01 a.m.

A Mixed Bag in Latest Results from Cash Leaders

Last month, we covered the annual results of five of the major companies in the cash sector – Brinks, Loomis, NCR, Diebold Nixdorf and Crane Co. All bar one reported an increase in both sales and profits. This month is the turn of Spectra Systems, Orell Füssli and Prosegur, where the results are more mixed.

Companies - April 2, 2022 12:01 a.m.

Connected Banknote Wins Digital Currency Award

Orell Füssli Security Printing and AUGENTIC’s Connected Banknote – the UTOPIAN DUAL – won the Advancement of Digital Currency Award at the Digital Currency Conference in Washington DC last month, which took place immediately after the Banknote & Currency Conference.

Events - April 2, 2022 midnight

De La Rue Publishes SBTi Targets

De La Rue has recently submitted targets to the Science Based Targets initiative (SBTi) to reduce its greenhouse gas emissions, consistent with limiting global temperature increases to no more than 1.5°C.

Sustainability - April 2, 2022 midnight

News in Brief

The Royal Mint has announced a partnership with Quintet Private Bank to introduce the use of recycled gold in an exchange-traded commodity (ETC).

News - April 2, 2022 midnight

New Security Ink Facility for India

The Reserve Bank of India has opened a new security ink manufacturing unit, VARNIKA, which will be operated by its subsidiary Bharatiya Reserve Bank Note Mudran Private Limited in Mysore.

Central Banks - April 2, 2022 midnight

G+D’s Green Banknote Initiative

According to Giesecke+Devrient, the sustainability revolution has accelerated to embrace an ever-growing range of environmental and social issues.

Sustainability - April 2, 2022 midnight

KURZ Issues Sustainability Report

Optical security feature and foil manufacturer KURZ has published a report – Communication on Progress – which presents the company’s sustainability performance to date in detail and also discusses its goals and plans.

Sustainability - April 2, 2022 midnight

The Role of Cash in War

In Russia and in Ukraine people have turned to cash, with large queues at bank branches and ATMs. The National Bank of Ukraine enacted a temporary cash withdrawal limit of 100,000 Ukrainian hryvnia per day — the equivalent of about $3,339 – and both countries have imposed capital controls.

News - April 2, 2022 midnight

Winners of Central Banking Awards 2022

Bangko Sentral ng Pilipians, the Central Bank of Costa Rica, the East Caribbean Central Bank and De La Rue were winners in four of the Central Banking Awards 2022, presented annually by the Central Banking Journal and which number over 30 categories.

Events - April 2, 2022 midnight

People in the News

Ida Wolden Bache, currently Acting Governor of Norges Bank, has now been appointed Governor, after NATO Secretary General Jens Stoltenberg announced he would not take on the role, his appointment having been announced in early February as the successor to Øystein Olsen.

News - April 2, 2022 midnight

Sustainability – a Better Way to do Business

One of the major challenges facing every business today is to operate sustainably. But it’s not enough simply to have a stack of policies, fine words, and good intentions to hand. Actions need to demonstrate that the policies are being put into action.

Sustainability - April 2, 2022 midnight

HSP Latin America Builds Back Better

After two years of COVID inflicted disruptions, Reconnaissance International was able to restart the acclaimed series of High Security Printing Conferences with a fiesta feel in Mexico City.

Events - April 2, 2022 midnight

GCF 2022 Ready to Launch at New Location in Port Aventura

The organisers of the Global Currency Forum (GCF) confirm they are ready to launch the first event for the global currency industry from the industry’s leading suppliers, the GCF partners who represent the entire life cycle of currency.

Events - April 2, 2022 midnight

The EMEA Cash Cycle Seminar (ICCOS) – Istanbul

Following on from the successful trio of Banknote Conference, Currency Conference and Digital Currency Conference in February, Currency Research is preparing for their next in-person event, the EMEA Cash Cycle Seminar.

Events - April 2, 2022 midnight

Fiji Celebrates Rugby Triumph at Olympics

The Reserve Bank of Fiji has issued a commemorative $7 banknote to celebrate the achievements of its Rugby 7s teams at the Tokyo Olympics, where the men’s and women’s teams picked up a gold and a bronze medal respectively.

Banknotes - April 2, 2022 midnight

In Other News…

Ulster Bank, one of Northern Ireland’s three note issuing banks, has unveiled the design of its new vertically-orientated £50, which is inspired by the women of the province and is being printed on polymer.

News - April 2, 2022 midnight


The decade-defining global pandemic, climate-driven disasters and economic disruptions have all had a profound impact on our personal, professional and social lives.

Events - April 2, 2022 midnight

Long, Longer, Longest Yet

In 2019, the Central Bank of the Bahamas issued the $50 banknote in its new CRISP Evolution series, which used Durasafe® substrate from Landqart and included a RAPID® windowed thread from Crane Currency.

Features - March 4, 2022 midnight


KURZ has been a pioneer in the use of diffractive optical anti-counterfeit features on banknotes since its earliest developments on the Australian dollar and the Austrian shilling. Its acquisition of OVD Kinegram (OVDK) in 1999 added proprietary optical features to its existing strengths in materials technology.

Technology - March 4, 2022 midnight

Guyana’s Celebration of Independence

The Bank of Guyana has launched a new $2,000 banknote to mark the 55th anniversary of Guyana’s independence from the UK, in 1966. The release, which was delayed by the onset of the COVID-19 pandemic, is the first Guyanese banknote to use polymer substrate.

Banknotes - March 3, 2022 midnight

Kazakhstan’s New 20,000 Tenge – Memorable on So Many Counts

The National Bank of Kazakhstan is renowned for its early adoption of high-tech security and innovative design, and has established itself as a testing ground for new features, with these trialled on commemorative and house notes before being adopted on circulating notes.

Banknotes - March 3, 2022 midnight

Open House at Koenig & Bauer Banknote Solutions

Koenig & Bauer Banknote Solutions is holding a series of one-day events, which will take place from 26-29 April and 8-12 May at its premises in Lausanne, Switzerland. Live presentations will be organised across sustainability, modularity and digitalisation.

Events - March 3, 2022 midnight

SAFEGUARD® – the Most Complete Banknote Substrate Solution Available?

There are many functional and secure features available that meet the needs of the various cash cycles, banknote issuing authorities and end users. One such feature is the taggant, which overcomes the challenges of the degradation of visible security features in that it continues to perform even when the note is subject to extensive wear and tear.

Substrates - March 3, 2022 midnight

Meta Materials Previews New KolourOptik Stripe

Meta Materials Inc, a developer of high-performance functional materials and nanocomposites and new owner of Nanotech Security, previewed a new technology from its security products business – KolourOptik® Stripe – at the Banknote & Currency Conference.

Features - March 3, 2022 midnight

Brinks’ Digital Vision to Disrupt the Cash Management Industry

Last December Brinks disclosed its three year strategic plan and 2024 financial targets, with a major focus on new digital cash payment solutions. According to CEO Doug Pertz, ‘Brink’s is evolving from a route-based logistics company with growing organic revenue and expanding margins into a key player in the broader payments ecosystem - with a focus on digital cash payment solutions.'

Companies - March 3, 2022 midnight

People in the News

Former Prime Minister of Norway and NATO General Secretary Jens Stoltenberg has been appointed for a six-year term as Governor of Norges Bank, replacing Øystein Olsen who is retiring. He won’t take up the position until later in the year, when his term at NATO expires. Deputy Governor Ida Wolden Bache will act as Interim Governor in the meantime.

News - March 3, 2022 midnight

News in Brief

As part of its modernisation programme, Security Printing and Minting Corporation of India Limited (SPMCIL) has commissioned new banknote printing lines at both of its printworks - Currency Note Press, Nashik and Bank Note Press, Dewas.

News - March 3, 2022 midnight

IACA Awards – the Winners Are…

The first day of the Banknote & Currency Conference, 22 February, saw the presentation of the latest International Association of Currency Affairs (IACA) Excellence in Currency Awards. Out of the 39 nominations, a shortlist of 15 was drawn up by the IACA Awards Committee for each of the four categories covered by the awards. These were then put to a ballot of IACA members.

Events - March 3, 2022 midnight

In Other News…

The Reserve Bank of Malawi has issued a new high denomination 5,000 kwacha banknote, to relieve pressure on the 2,000 kwacha, which accounts for 80% of currency in circulation. An upgraded version of the 2,000 will also be issued shortly.

News - March 3, 2022 midnight

The Importance of Cash in War

War is brutal and yet here we are with war in Europe. Unbelievable. Yet again though, it underlines the need for cash. The run up to the war saw cyber-attacks on the Ukrainian ATM network and now the invasion has started the internet is not guaranteed, let alone power. Once again, cash is king.

Comment - March 3, 2022 midnight

Why Perception Studies Need to Be Considered in a Wider Context

One the sessions at the Banknote & Currency Conference was ‘Perception Studies: Producing Actionable Information to Support Data-Driven Decision Making’, in the context of: what are the most effective features on a banknote? What do people use to authenticate them? What captures their attention and how do we know?

Comment - March 3, 2022 midnight

Open Sesami – A New Force in Cash Management Technology

Canadian security services provider GardaWorld, the world’s largest privately owned provider of security, cash and risk management service, has announced the launch of Sesami, a new cash ecosystem performance and technology company that will operate independently of its parent.

Companies - March 3, 2022 midnight

The Industry Finally Gets Together Again

The Banknote & Currency Conference was the first major industry event to take place in person since the start of the pandemic. The four day event, followed by the one-day inaugural Digital Currency Conference, welcomed more than 450 delegates from 180 organisations and 53 countries.

Free - March 3, 2022 midnight

Good Times Return for Cash Industry Leaders

February is when several of the leading listed companies in cash report their annual results for the previous year. In 2019, all bar one reported strong results and optimistic outlooks. Needless to say, this was before COVID struck, and the optimism was quickly overturned in 2020 as the pandemic took its toll.

Companies - March 3, 2022 midnight

Understanding an Industry

All too often notifications arrive about a new study into an aspect of the cash industry, the cash cycle or payments. The trouble is that if it is written by an industry-insider, the competitive value is so high that the document has to talk in bland generalisations.

Comment - March 3, 2022 midnight

Countering Counterfeiting – Adversarial Analysis

When a central bank is designing a new series or upgrading the security of the existing designs how can it be certain that the security features selected will be resilient against counterfeiting? How do they choose from the many features and technologies on offer?

Counterfeiting - February 10, 2022 midnight

In Other News…

The Bank of Guyana has announced that it will shortly be issuing a new $2,000 banknote on polymer to commemorate the 55th Anniversary of Independence.

News - February 1, 2022 midnight

More Dialogue and Interaction for Designers

The International Banknote Designers Association (IBDA) has finalised the agenda for the 6th International Banknote Designers Conference that will take place in Dubrovnik, Croatia from 24-27 October 2022.

Events - February 1, 2022 midnight

Upgrade for DLR Analytics™

The team behind the multi-award winning cash cycle analytics platform DLR Analytics™ have announced a major upgrade to the existing software.

Technology - February 1, 2022 midnight

HUMANIA: One Note, One Jab

Work has now started on the first in the HUMANIA series of banknotes, which are being produced to raise money to support people who have been most affected by the COVID-19 pandemic.

COVID-19 - February 1, 2022 midnight

The Green Banknote Initiative

Giesecke+Devrient (G+D) and Papierfabrik Louisenthal have been working on reducing the environmental impact of their banknote production and cash cycle related activities for many years.

Sustainability - February 1, 2022 midnight

News in Brief

Banknote authentication and security software provider Spectra Systems Corporation has announced three new contract awards, generating $700,000 of additional unforecasted revenue for the 2022 calendar year.

News - February 1, 2022 midnight

COVID 19 Impacts De La Rue Turnaround Plan

De La Rue has announced a trading update on the financial year ending March 2022, as well as an update of progress on its Turnaround Plan, which unsurprisingly has been impacted by the pandemic.

Companies - February 1, 2022 midnight

New Business Segment for Goznak as it Enters Banknote Processing Market

Russian state printer and mint Goznak has launched its own banknote counting and sorting machine – the BARS-S5. This follows the acquisition last year of BIS (which stands for Bank Innovation Systems), with whom the new machine was co-developed. The first order has already been received from the Central Bank of Russia.

Companies - February 1, 2022 midnight

Thailand Adopts Polymer for Highest Use Note

The Bank of Thailand will launch a new 20 baht note on 24 March, marking the transition to polymer of the country’s most widely used denomination, which accounts for 30% of all Thai banknotes in circulation.

Banknotes - February 1, 2022 midnight

Albania Completes Modern New Series

The Bank of Albania has put into circulation new versions of the 500 lekë and 2,000 lekë, thereby completing its new series which also includes 200, 1,000, 5,000 and 10,000 lekë.

Banknotes - February 1, 2022 midnight

RBNZ Seeks Feedback to Determine Cash System Redesign

As part of our series of articles around the world to assess the growing trend to digital payments and what these countries are doing to ensure ongoing access to cash in a less-cash world, this month it’s the turn of New Zealand.

Studies-Reports - February 1, 2022 midnight

Cash Trends and The Future of Cash in the Eurozone

At the European Cash Cycle last autumn, the presentation by Josef Vrana, Senior Banknote Issuance Expert, Directorate Banknotes for the European Central Bank (ECB), covered euro cash trends and the effect of COVID-19 to date.

Central Banks - February 1, 2022 midnight

Full Steam Ahead for Banknote & Currency Conference in February

Flights have been booked, hotel reservations have been made and final preparations are being made so that, after two years apart, Currency Research can bring the majority of the industry back together for some long-overdue discussions, professional networking, and a lively exchange of information and views.

Events - February 1, 2022 midnight

Sustainability Starts with Central Banks

We have covered a number of initiatives by central banks and suppliers (individually or collectively through their associations) to reduce the environmental impact of cash, and will continue to do so.

Free - January 31, 2022 midnight