The Central Bank of Kenya derives its mandate from Article 231 of Kenya’s Constitution and Section 22 of the CBK Act. Among these responsibilities, CBK must ensure and facilitate adequate and secure money supply in the economy. In fulfilling this mandate, the CBK took steps to guarantee the supply of banknotes by procuring an updated version from Giesecke+DevrientCurrency Technology.

There is a perception that in 2022 and 2023 the currency ‘industry’ was a little flat, even lacking self-confidence, in the face of the fall out from the pandemic and the huge surge in digital payments as societies rapidly went online. The evidence of 2024 tells a rather different story.

De La Rue has announced its half-year results for the six months ending September 2024. The company reported lower revenues but continued growth in its order book, and strategic development with the proposed sale of its Authentication business to Crane NXT.

The Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO) held a ‘Currency By-Product Utilisation Seminar’ earlier this month to launch its new venture to reuse currency by-products slated for disposal – both end-of-life banknotes and waste from production. Around 500 tonnes are generated annually, of which 90% is incinerated.

The International Hologram Manufacturers Association (IHMA) has a new name – the International Optical Technologies Association (IOTA). The change is part of the industry body’s strategic plan to broaden its scope to better serve evolving markets and new technology frontiers, particularly in optical security.

Last month, the International Association of Currency Affairs held a webinar titled ‘Cash Visibility: How the Royal Canadian Mint Manages Canada’s Circulation Coins in Real-Time’, where the Mint detailed their strategies and systems for managing cash visibility for coin in Canada.

In a management earnout of up to 100%, Currency Research’s CEO and President Jens Seidl and Vice President Shaun Ferrari will become majority shareholders of the company. The founder, and current sole shareholder, Richard Haycock will sell all his shares and resign from the Chairman position, effective 1 January 2025.

Not content with being a leader in banknote substrates, features and print, Crane NXT is certainly gunning for the brand protection market, having acquired three companies in this area since the start of the year.

The Royal Dutch Mint (RDM) has signed a multi-year agreement with Finland’s Ministry of Finance for the production, marketing and distribution of circulation and commemorative euro coins. The announcement follows the Mint of Finland’s announcement last month that it would cease operations in 2025, following the completion of its existing commitments to customers and suppliers – which it expects to fulfil early next year.

As described in last month’s issue of Currency News™, at the recent Global Currency Forum (GCF) in Oman, industry players showcased house notes with new security features on themes ranging from butterflies, meadows and the ocean to Venus. To that can be added chameleons.

The Bermuda Monetary Authority (BMA) is introducing new polymer $2 and $5 banknotes on the theme of ‘Same Look, Smarter Design’.

The Swiss National Bank (SNB) has announced that it is to begin developing the country’s 10th banknote series in order to ensure that Swiss banknotes continue to meet the latest standards for functionality and security.

Continuing on its acquisition trail to penetrate the brand protection market, Crane NXT has now bought the smart packaging assets of TruTag Technologies, which will be incorporated into its OpSec business.

In this periodic series of articles covering cash information in central bank annual reports, this month we take a look Down Under, with a review of the reports from Australia and New Zealand.

Security Printing & Minting Corporation of India Ltd recently released its 2023/24 Annual Report, registering a rise in production, but a small drop to Rs 47.14 billion (US$555 million). Costs were up 7.7% to Rs 36.95 billion.

Most central banks will classify their counterfeit banknotes to determine the types of threats presented by the counterfeiters. This may be as simple as identifying the printing processes on the counterfeit as digital or traditional. Or it could be an in-depth analysis of the individual characteristics of the printed image along with the security feature simulations.

The Reserve Bank of India (RBI) has extended the deadline for responses to its Expression of Interest (EOI) for services related to the modernisation of India’s currency management infrastructure 4 December 2024.

Many countries and regions are strengthening regulations to control environmental pollutants, chromium being a case in point as its emissions significantly impact the environment and human health. As a result, numerous countries have implemented strict standards and control measures to reduce chromium pollution.

A functioning cash supply is a stabilising factor in our society, both in normal times and especially in times of crisis. At the same time, the demands for a robust and efficient cash circulation system are increasing.

In a comprehensive modernisation of its currency system, Denmark is undertaking an ambitious series of changes that reflect its unique position as both a digital payment pioneer and a steadfast protector of cash rights.