The International Association of Currency Affairs (IACA) has announced the finalists of the 2024 Excellence in Currency Technical Awards. The winners for all four categories will be announced at the Banknote Conference Awards Dinner on the evening of 15 May.

The Central Bank of Suriname has introduced two new high denomination banknotes; the 200 and 500 Suriname dollars, showcasing advanced security and sustainable substrates.

The Bureau of Engraving and Printing (BEP) has published its annual report for 2023 – the first under Acting Director Charlene E Williams, who was appointed to the position after the retirement of Len Olijar last July.

A new periodic series of articles in Currency News™ will summarise information on counterfeit currency around the world, starting in this issue with the Czech Republic, Ghana, Kosovo and the Philippines.

Nestling in the heart of the Balkans, Sofia, the capital of Bulgaria, was the picturesque setting for the latest edition of the High Security Printing™ (HSP) conference series (4-6 March). The sell-out event, which had to close its doors to new registrations three weeks in advance, brought delegates up to speed about what is happening to banknotes in the region and around the world.

The 2024 Banknote Conference program was formed with the ideas, insights, and suggestions from the Banknote Advisory Board. As the industry’s premier technology-focused event, the committee’s input is a valuable part of the overall program structure, say organisers Currency Research, ensuring the most relevant, technology-focused topics for our industry today are covered such as the latest advancements in currency technology, trends, security features, and much more.

The Regional Banknote and ID Document of the Year Awards form part of the industry’s High Security Printing (HSP) EMEA conference. This year’s awards were presented at a special ceremony during the conference dinner in Sofia on 5 March.

In this article, Francisco Mandiola of FMA Secure explains what is happening in South America’s second largest country and economy, and what it means for the currency.

Many counterfeiters use a common method of counterfeiting called ‘bleaching’ to create their fakes. This technique is frequently observed in countries that have the same size banknotes across all denominations, such as the US dollar.

The International Hologram Manufacturers Association has recently expanded the Hologram Image Register to incorporate all optically variable security images. The Security Image Register (SIR) is the only database of its kind for the security community, safeguarding copyright and helping deter attempts to copy security images, inadvertently or otherwise.

Banco Central República Argentina has confirmed that new 10,000 and 20,000 peso (ARS) notes will enter into circulation in June.

Last July, Currency News™ reported that BioBanknote, the developer of solutions for repurposing end of life banknotes, and the Banco Central de Reserva del Perú (BRCP) were conducting a composting test with the waste from banknotes withdrawn from circulation. This article provides the results of that trial.

The Central Bank of the Republic of Turkey has appointed Fatih Karahan as its new Governor.

Florida, Wisconsin and Vermont are the latest states to consider introducing legislation to force cash acceptance.

Crane NXT, whose subsidiaries include Crane Currency, Crane Authentication and Crane Payment Innovations, has announced it has signed a definitive agreement with Investcorp Technology Partners to acquire the optical technologies and brand protection specialist OpSec Security for $270 million in cash, subject to customary adjustments.

Last month, we covered the annual results of four of the major companies in the cash sector –Crane NXT, Loomis, NCR Atleos and Diebold Nixdorf. After the predicable challenges of the COVID years and their aftermath, 2023 was a good year for all.

De La Rue has announced that it has achieved an A- in its 2023 CDP Climate Change Questionnaire, which means it has reached leadership status (A and A- scores).

Banque de France has appointed the Alstef Group to supply the process automation system at its printworks and logistics centre in Vic-Le-Comte, which is currently under construction.

A cooperative project between Jura (the developer of security prepress systems including software and hardware solutions) and OeBS (the Austrian banknote printer) has worked to develop direct engraved steel (S-DLE) intaglio printing plates, thus eliminating the use of an environmentally dangerous process and materials.

The problems with plastic are widely known – but not well understood. The truth is, sometimes plastic is necessary. And when it comes to banknotes, polymer substrate is the green choice.

What is the primary reason that most countries issue a new banknote to replace an older design? To help prevent COUNTERFETING!

Last November, the National Bank of Kazakhstan (NBK) issued a commemorative 10,000 tenge banknote to celebrate the 30th anniversary of the national currency, followed in December by the issue of the first banknote in a new note series, the 5,000 tenge.

Bangko Sentral ng Pilipinas (BSP) will be circulating an additional 1 billion P1,000 polymer banknotes in 2024, double the amount previously ordered in 2021 for the circulation trial of the polymer versus the paper version.

Each February and March we cover the previous year’s results for the leading companies in cash management, most of whose financial years run from January to December. Between them these results provide a useful means of taking the pulse of our industry.

The Bundesbank (BBk) has established a National Cash Forum to allow cash cycle stakeholders to exchange information on cash issues. The BBk wants the Forum to increase cooperation and pool interests for stakeholders in order to prepare initiatives to improve and stabilise the cash cycle. In itself, the creation of the Forum signals that the BBk and stakeholders support cash.

Europe’s newest printworks, Spain’s Imprenta de Billetes SA (IMBISA), has been awarded a contract to produce all €10 banknotes destined for the Eurozone in 2024 – 424.2 million in total. It will also produce a portion of the €5 notes required next year.

Biobanknote has spent 12 years focusing on the protection of the environment, building expert knowledge about composting banknotes, and offers professional advisory services to central banks and producers helping them set banknote specification parameters, measurement methodologies, controls and evaluations so that the new banknotes can be more sustainable throughout the cash cycle.

Koenig & Bauer Banknote Solutions (K&B BNS) has pre- launched its new production platform called ‘AKTINA’.

The second Cash Sustainability Forum (CSF) takes place in Frankfurt, Germany from 24-26 June. On the first afternoon will be a workshop dedicated to the recycling and recirculation of cash. It will build on a white paper currently being researched and prepared and for which input is still very welcome.

The first Security Designers Forum (SDF) will take place 9-11 September 2024 in Warsaw, Poland as a dedicated setting for all those involved in design and design decision-making relating to secure documents such as banknotes and passports, to learn, exchange knowledge and develop new ideas.

Three webinars will be held over the coming weeks of interest to the banknote and coin communities, each with a very different focus

The Federal Reserve Board of Governors has confirmed the order for banknotes for 2024, which will be in the range of 5.3-6.9 billion notes, valued at $180.5-204.4 billion.

First level features for public authentication have grown remarkably over the years. The key objective is to stop counterfeits at the first pass. A solid combination of printed and substrate embedded features is available, and continues to grow.

‘Concept Notes: Art, Design and Security in One’, the second issue of a special report from Currency News summarising the latest house notes, is now available to download and read.

Koenig & Bauer Banknote Solutions (K&B BNS) will be hosting an event this June to bring the international central bank community together around the future role cash will play in society.

The National Bank of Ukraine has issued a new commemorative 50 hryvnia banknote entitled ‘Unity saves the world’ on the second anniversary of the Russian invasion.

2024 has kicked off with a focus on cash, particularly a series of initiatives by central banks to safeguard access to cash.

Cash automation solutions provider Glory Global Solutions has announced plans to acquire 100% of the issued share capital of UK-based Flooid, provider of cloud-based unified commerce software to the retail industry, from Inflexion Private Equity Partners.

The Central Bank of Argentina has approved the printing of 10,000 and 20,000 peso banknotes, amid continuing high inflation.

The People’s Bank of China (PBC) has issued a 20 yuan commemorative legal tender banknote to celebrate 2024’s Lunar Year of the Long (Chinese Dragon), which begins on 10 February.

This is the first in a series of articles that explores the cultural aspect of money that goes beyond its function as a means of payment or store of value. Many societies have a long-standing tradition of gifting money (banknotes and coins) to mark auspicious occasions – births and birthdays, weddings and other special events, where the value of the gift is as much social as it is financial.

The next HSP EMEA 2023 event will be held in Sofia, the capital of Bulgaria, on 4-6 March 2024 and the organisers are expecting a sell-out event, with key decision makers from central banks, suppliers and printers coming together to discuss and learn about a range of topics from cash usage and trends in the region, sustainability and resilience in print to physical and digital technologies, security features and design.

The programme for the third Optical and Digital Document Security™ (ODDS) conference – which takes place from 8-10 April 2024 in Lisbon, Portugal – is now available.

COP 28 in December last year provided evidence that the climate is changing, and we are struggling to do what is needed to mitigate or adapt to the change. Given this is the only planet we have, and we are all on this place together, sustainability is relevant to us as individuals and to our work.

As has been customary at the start of the year in the past, we have invited stakeholders and other participants in the cash community to give their views on key trends and likely developments for the coming year.

How many counterfeit banknotes are in circulation? I can’t tell you how many times I have been asked this question. So, let’s look at how counterfeit banknotes are found and reported.

467,000 counterfeit euro banknotes were withdrawn from circulation in 2023, according to the European Central Bank, which is one of the lowest levels ever since the introduction of the euro in 2002 in proportion to total banknotes in circulation.

The Banknote Conference is the industry’s premier technology-focused event with a long and rich history of hosting the world’s technology experts from central banks, printing works, and industry suppliers and providing an unparalleled opportunity to discuss emerging trends, technologies, and innovation.

The start of 2024 has been marked by a series of acquisitions in the minting community.

This month’s coverage of cash information in central bank annual reports contains news from the central banks of Rwanda and Uganda.

Currency News™ reported in November 2023 on the Guangzhou Banknote Printing Company and its ‘intelligent’ factory. Now China Banknote Ink Co is following on with an Integrated Operation Centre.

Currency News™ has officially ‘come of age’! That is, if reaching its 21st birthday counts as the coming of age – which in many societies it does.

Under the new leadership of Vijay Ranjan Singh, who was appointed its Managing Director last year, SPMCIL recently released its 2022/23 Annual Report, registering a growth of 20.35% in revenue to Rs 49.18 billion.

Jasmina Selimović has been appointed Governor of the Central Bank of Bosnia and Herzegovina (CBBH). She replaces Senad Softić and is the first women to hold the position.

Cash & Payment News™ (CPN) is the sister publication to Currency News™. It was first published in July 2018 as the successor to Payment News Quarterly and, while Currency News focuses on the product that is ‘cash’, CPN has concentrated on the use of cash once issued.