Banknotes rarely portray current monarchs or presidents

Central banks favour other historical figures, but few institutions feature people from minority groups

Only a few central banks tend to incorporate images of incumbent monarchs or presidents on their banknotes, the Currency Benchmarks 2023 find.

Some of the 33 jurisdictions that addressed the question used more than one image on their banknotes. But only five (15.2%) depict figures of sitting monarchs or presidents on their legal tenders. The majority of 14 (42.4%) said other historical figures are preferred, a result that echoes previous benchmarks’ findings. Additionally, 10 (30.3%)

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