Latest News

Astrid Mitchell

1 March 2023

3 min read

Nigeria’s Money Swap Saga

In October, the Central Bank of Nigeria announced that the three highest naira denominations (the N 200, 500 and 1,000) were being redesigned and reissued, with a six week period between issue and demonetisation (from 19 December to 31 January).

Banknotes Central Banks

Astrid Mitchell

1 March 2023

6 min read

Preparing for Future Crises in Germany

Germany has been working over the past three years on a project known as BASIC, which aims to strengthen the resilience of the cash supply infrastructure in the event of an emergency or crisis.

Cash Handling Central Banks

Astrid Mitchell

1 Feb. 2023

3 min read

Good Planning Leads to a Smooth Transition for Croatia

Croatia joined the Eurozone on 1 January 2023, bringing the number of European Union member states using the single European currency to 20.

Central Banks News

Astrid Mitchell

4 Nov. 2022

4 min read

Industry and Consumer Groups Convene to Support Cash

In addition to the industry associations that are advocating for cash, two new initiatives in Europe have demonstrated the scope for campaigns to promote cash acceptance at the country level by harnessing interest groups throughout society.

Central Banks Companies

Astrid Mitchell

30 Aug. 2022

4 min read

The End of the Line for Banknotes in Pakistan

Last November we ran an article on a research project by Pakistan Security Printing Corporation to evaluate the parameters for composting waste from banknote production by mixing it with manure. This time it’s the turn of the State Bank of Pakistan, and what it does in terms of dealing with banknotes at the end of their life.

Central Banks

Astrid Mitchell

1 Aug. 2022

3 min read

Croatia Gets Green Light to Adopt Euro in 2023

It’s official – Croatia has been given the green light to adopt the euro as its currency. On 12 July the Council of the European Union formally approved its accession to the euro area on 1 January 2023.

Central Banks

Astrid Mitchell

1 Aug. 2022

2 min read

SARB Maintains Denominational Mix

The South African Reserve Bank (SARB) has recently commented about options for its denominational structure, following ‘fake news’ that it is planning to introduce a new high denomination R500 note and R10 coin.

Central Banks

Astrid Mitchell

1 Aug. 2022

3 min read

Green Light for New French Printworks

The Banque de France (BdF) has announced that the construction of a new banknote printworks on the same site as its paper mill in Vic-le-Comte (Europafi) is going ahead, and will be completed in 2026 at a cost of €220 million.

Banknotes Central Banks Free Free

Astrid Mitchell

29 June 2022

2 min read

BSP Moves Forward with New Production Facility

The Bangko Sentral ng Pilipinas (BSP) has received approval for a budget of at least P25 billion ($450 million) for the construction of its new Currency Production Facility (CPF) in a 31.2 hectare complex in New Clark City in Capas, Tarlac.

Central Banks

Astrid Mitchell

29 June 2022

3 min read

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.

Central Banks Counterfeiting

Astrid Mitchell

29 June 2022

3 min read

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 Studies, Reports

Astrid Mitchell

1 June 2022

3 min read

RBI Annual Report Reflects a More Normal Year

The Reserve Bank of India (RBI) has issued its annual report for 2021-22. The backdrop for the year was India’s second and third wave of the pandemic, which affected operations.

Central Banks

Astrid Mitchell

1 June 2022

3 min read

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.

Banknotes Central Banks

Astrid Mitchell

1 May 2022

2 min read

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

Astrid Mitchell

1 April 2022

2 min read

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.

Banknotes Central Banks

Duncan Reid

10 Feb. 2022

8 min read

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?

Central Banks Counterfeiting

Astrid Mitchell

1 Feb. 2022

4 min read

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

Astrid Mitchell

1 Feb. 2022

2 min read

Celebrating 20 Years of the Euro, and Record Lows for Counterfeiting

On 1 January 1999, 11 EU countries fixed their exchange rates, adopted a shared monetary policy under the European Central Bank, and launched their new common currency. The euro was born as an electronic currency.

Central Banks Counterfeiting

Astrid Mitchell

1 Dec. 2021

3 min read

Central Bank of Nigeria Reports on Cash for 2020

The Central Bank of Nigeria (CBN) has made progress in 2020 with introducing and updating new systems to help with its cash management, according to its recently published annual report on cash operations.

Central Banks Studies, Reports

Four Nations Group

28 Oct. 2021

13 min read

Four Nations Cognitive Research – An International Collaboration to Produce Actionable Banknote Design Guidelines

The Four Nations group was founded in 1978 and consists of five central bank members – the Board of Governors of the Federal Reserve System, Bank of Canada, Reserve Bank of Australia, Bank of England and Banco de México.

Central Banks Studies, Reports