Further to the news that Pakistan’s federal government has formed a committee to investigate whether the 10 rupee banknote should be phased out in favour of its existing equivalent coin (see CN January 2026), a new currency management report has recommended that it should, noting that the shift could save the country billions.

CCL Secure has been awarded a tender by the State Bank of Vietnam (SBV) to supply GUARDIAN™ polymer substrate for the 200,000 dong (VND) denomination.

The UK is navigating a pivotal moment in its national infrastructure, embarking on major security printing tenders totalling over £1 billion covering banknotes, passports, and excise-control stamps.

The Bank of Japan was joint winner of the Best New Banknote Series at the HSP Asia conference in Kuala Lumpur last December for the new 10,000, 5,000, and 1,000 yen notes.

Mali’s Ministry of Economy and Finance has said that claims circulating on social media about the imminent introduction of a common currency for the Alliance of Sahel States (AES) are false.

Banque de France (BdF), the Oesterreichische Nationalbank (OeNB), and Banco de Portugal (BdP) are strengthening their cooperation in the field of banknote production, building on ties dating back to 2017.

On 11 February 2026, Europol announced that Operation DECOY III prevented an estimated €1.2 billion counterfeit banknotes and coins from entering circulation. This was a joint operation between customs and police organisations that were targeting criminal networks distributing fake currency through the post.

Following the overthrow of the Assad regime in late 2024, Syria’s transitional government introduced a re-designed and re-denominated series of banknotes at the beginning of 2026 (see CN January 2026). It did this as part of a monetary reform strategy aimed at re-establishing a sound banking sector based on financial stabilisation, transparent foreign exchange, secure digital payments, and sustainable financial inclusion.

There is that saying, ‘you do what you measure’ and SMART (Specific, Measurable, Achievable, Realistic, Time-bound) objectives are part of all our lives. Measurement matters.

The Central Reserve Bank of Peru has issued a new version of the 200 soles banknote.

In a separate development to its new app, BioBanknote, has developed a composting solution for the disposal of solid waste created in intaglio wiping solution, often referred to as ‘sludge’.

David Iván Espinoza Torrico has been sworn in as the new President of the Central Bank of Bolivia, replacing Edwin Rojas Ulo who had been serving as Interim President.

This February, HSP EMEA marked its 21st edition with its largest event yet. For the first time, the conference was on the African continent (Rabat, in Morocco), highlighting the region’s growing economic momentum and role in global technology and development, particular as regards secure printing, identity management, and related technologies.

The Regional Banknote of the Year Awards form part of the High Security Printing (HSP) EMEA conference. This year there were awards for Best New Banknote, Best New Series and Best New Commemorative Banknote, along with Best House Note and, for the first time, Best New Process or Technology.

The National Bank of Ukraine has released a modified 200 hyrvnia (UAH) banknote. While the 2019 design and security features remain, the revised notes carry the slogan: ‘Glory to Ukraine! Glory to the Heroes!’

The Reserve Bank of Fiji (RBF) has introduced a new family of Fijian dollar banknotes, with a launch ceremony held on 2 December 2025. The notes – in denominations of $5, $10, $20, $50, and $100 – were designed and printed by Crane Currency on CCL Secure’s GUARDIAN™ substrate, and is the first polymer series to use the integrated MOTION SURFACE® micro-optic stripe on all denominations. The banknotes were issued on 2 January 2026.

The Bank of Papua New Guinea has issued a new 100 kina banknote, commemorating the first anniversary of the death of the late Sir Julius Chan, one of the nation’s most influential political and economic leaders.

The Central Bank of Bolivia (CBB) has announced that, as a result of the plane crash that occurred on 27 February in the district of El Alto (part of the capital, La Paz), banknotes in the denominations of Bs10, Bs20 and Bs50 of Series B, corresponding to the New Boliviano Banknote Series, are no longer legal tender.

On 8 March Switzerland is asking its citizens whether cash acceptance should be included in the constitution, something Slovakia introduced in December last year. On 1 January Australia introduced (limited) cash acceptance legislation and on 4 February the Netherlands passed its Cash Payments Act. It feels as if wherever you look action is being taken to safeguard cash.

444,000 counterfeit euro banknotes were withdrawn from circulation in 2025, according to the European Central Bank. This is a decrease of more than 20% compared with 2024, and a reversal of the trend which had seen numbers climb since 2021. In terms of the counterfeiting ratio, for 2025 it was 14 ppm, compared with 18 ppm the previous year.

Finding that one specific article in Currency News™ can sometimes feel like searching for a needle in a haystack. Whether you are flipping through physical archives or scrolling through endless PDFs, the process can be time-consuming and frustrating.

As we reported in the final issue of 2025, the currency industry appears to be booming. We posited on various reasons why – geopolitical uncertainty, rebuilding of strategic stocks, economic growth in the Global South in particular, shorter design cycles with more frequent upgrades and new issues, and the occasional large lumpiness of overspill orders.

The readers of this article are likely to agree that cash, whether banknotes or coins, is a wonderful thing. Although the siren call of convenience is luring people to digital alternatives, cash remains part of the fabric of our societal DNA.

On 1 January 2026, the euro replaced the Bulgarian lev, making Bulgaria the 21st of European Union’s 27 member states to join the eurozone, following Croatia’s entry in 2023. This means 358 million Europeans now use the euro as their currency.

Some big changes in the Indian ATM market are planned over the next six months with 17,350 new machines, 75% of which will be capable of cash recycling.

Currency Research, in collaboration with currency practitioners from African central banks, has launched a new international research initiative to examine global cash usage trends and the future role of physical currency in a rapidly evolving payments landscape.

The Indian government has approved a ₹18 billion (£144 million) proposal to establish a new Cylindrical Mould Watermark Banknote (CWBN) production line. This line will have an annual capacity of 6,000 tonnes of high security paper for banknotes, non-judicial stamp paper, and passports.

Banknote security specialist Hueck Folien has acquired California-based WaveFront Technology LLC, transforming the Austrian firm into a ‘full-liner’ with end-to-end control over the security feature lifecycle. By integrating WaveFront’s 30-year expertise in micro and nanostructures, Hueck Folien says that it secures strategic independence and the ability to originate custom optical designs in-house. The value of the transaction was not disclosed.

Challenging long established companies in a deeply conservative market is a daunting prospect, and yet that is what Q&T Hi-Tech Polymer (Q&T) has done.

Currency Publications now offers two data sources on banknotes and coins – one included in your subscription, and the other for an additional subscription. One is a reference tool, and the other a research tool, and they fulfil different, but complementary functions.

DataVault tells us that the use of patches on banknotes is increasing, albeit from a low base. In 1999 two issuers had applied a patch to their currency, as of late 2025 the number was 32, just under 20%. The adoption rate is slow but steady. The uptake appears to have no regional or size bias. From Jersey through to Nigeria.

The CB+DC Conference, which focuses on digital currencies and payments, will hold two events in 2026, one in Kuala Lumpur hosted at Sasana Kijang, the Bank Negara Malaysia’s training facility, 12–14 May and one in Amsterdam 27–29 October. Registration is now open.

The High Security Printing (HSP) EMEA conference, organised by Reconnaissance (publishers of Currency News™) takes place in Rabat, Morocco from 9-11 February.

We invariably cover the financial results of the public (listed) companies in our sector, certainly annually and sometimes their interim results too, as a means of taking the temperature of the industry. To supplement this is Industry Watch, now published annually rather than quarterly, which specifically looks at their share prices over the period of the preceding year.

Ethiopia is apparently done waiting on foreign firms to print its cash. At the Finance Forward 2026 conference in Addis Ababa, Prime Minister Abiy Ahmed made it official: the country is moving to print its own currency. For decades, the Ethiopian birr has been produced overseas, but the government is now betting that ‘monetary sovereignty’ is worth the massive upfront investment.

The South African Reserve Bank (SARB) has announced plans to modernise how money is circulated, accessed, and managed in the country with the largest overhaul of its cash system in decades. Through its Cash Smart Strategy (CSS), part of its Payments Ecosystem Modernisation (PEM) Programme, it intends to create a cash-management company, roll out white-label ATMs, and tighten oversight of cash distribution, aiming to make the system cheaper, safer, and more accessible.

The International Currency Association has a busy year ahead, with the upcoming Global Currency Forum taking place this April, a major study on the social value of cash in the making, an expansion of the Cash Matters social media campaign and, in the most recent development, the arrival of several new members from the minting community.

China Banknote Designing and Engraving Co (CBDE) is a state-owned enterprise under China Banknote Printing and Minting Corporation and a high-tech enterprise approved by the People’s Bank of China. Established in 2001, its core business has been the design and engraving of the national currency. At the same time, it has engaged in the research and development of plate inspection system technology, using technological upgrades to support high security printing.

There’s something about currency conferences held in Africa! They may not always run with clockwork precision, but they are among the most memorable and vibrant events on the conference calendar, creating an ambience that is uniquely conducive to relationship building and the sharing of stories.

Celebrating the 35th Africa Cup of Nations (AFCON), which took place December to January in Rabat and was eventually won by Senegal, Morocco’s Bank Al-Maghrib has issued a commemorative 250 dirham silver coin and a commemorative 100 dirham banknote.

Syria has issued a new currency, removing portraits of the Assad family and redenominating to remove two zeroes.

The International Currency Association and the International Mint Industry Association have announced that they will merge to become a combined industry association. The two organisations will join forces under the ICA umbrella, aiming to unite the global currency industry more closely and strengthen the collective voice for cash, including both banknotes and coins.

Currency Research, in collaboration with currency practitioners from African central banks, has launched a new international research initiative to examine global cash usage trends and the future role of physical currency in a rapidly evolving payments landscape.