Currency
Kenya’s central bank opens new currency centre
New facility will improve currency circulation within the region, president Kenyatta says
Printing is the most outsourced area of the cash cycle
Just over 60% of survey respondents contract out currency printing
Watermarks and intaglio printing remain top security features
Increasing the number of security features does not necessarily reduce counterfeiting
Currency managers eschew big data and long-term forecasts
Most popular banknote forecast period is one to three years
Only 25% of central banks operate own printworks
Larger central banks from high income countries are more likely to print notes in-house
Central banks show wide variation in cash department staffing
Different staffing levels driven in part by which institutions run their own printworks
RBNZ looks to bolster capabilities as ‘steward’ of the cash system
Central bank launches review of cash system and increases engagement with financial industry
Cash volumes rise in most jurisdictions
Annual growth in banknotes in circulation was 6.2%; or 5.2% on a weighted basis
China starts public trials of experimental CBDC
PBoC and Shenzhen local government issue digital yuan to test retail payments
‘Wear and tear’ the main reason for banknote exchange
Covid-19 raised fears of banknote contamination, but historical exchange is mostly due to worn notes
Covid-19 may survive 28 days on banknotes and payment cards
New research suggests virus can survive for an extended period of time at room temperature
Counterfeits rise with issuance on multiple substrates
Average percentage of counterfeits per total volume in circulation is around 0.01%
ECB’s Panetta stresses digital euro should preserve privacy
Central bank launches public consultation on digital euro
UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
Sama launches polymer version of five-riyal banknote
New note will circulate alongside existing cotton banknotes
ECB steps up research on ‘digital euro’
Central bank analysing both centralised and decentralised options for a digital currency
Global banknote developments before and after Covid-19
Antti Heinonen looks at how the pandemic triggered sharp changes in demand for cash
UK’s access to cash policy pilots to launch in 2021
Industry body seeks permission from FCA to allow retailers to provide cashback services
An end to the loveless marriage with the US dollar?
Covid-19 represents an unexpected shock that could cause further US dollar decoupling
Ethiopia launches new high-denomination banknote
New 200 birr note aims to curb inflation and corruption, central bank says, as Covid-19 slows growth
Consumers must be informed of access to cash changes – FCA
FCA warns decisions around closure of cash services must be ‘fair’ to customers
Nigerian central bank clamps down on alleged FX breaches
Local media reports bank accounts for 38 firms were blocked as currency remains under pressure