Central Banking

Japan discovers misprints in yen notes

Japan's high-tech money-printing bureau was embarrassed on Tuesday 9 May when 39,500 bills were found to be misprinted.

The error caused vending machines across the country to reject the notes.

The 1,000-yen (5 pound) bills, redesigned along with other denominations in 2004 with sophisticated security features to fight counterfeiting, had been printed with a fault unrecognisable to the eye but detectable by some machines, the Bank of Japan said.

The central bank said the bills were valid but cou