Currency
Big variation in shortest- and longest-lived banknotes
Average lifespans range from 0.6 years to 20 years, with number of denominations playing key role
Singapore’s central bank discontinues issuance of $1,000 banknote
Highest denomination will remain legal tender, but new issuance will cease at the end of 2020
Asia issues the most banknotes by volume and value
Asian central banks issue 62.3 banknotes worth $1,852 per person
BoE extends contract with De La Rue
UK printer will help central bank continue to develop printing site as world leader
New polymer banknotes are greener and cheaper – T&T governor
Central bank plans to review coin denomination usage later this year, Alvin Hilaire says
Most central banks not measuring banknote carbon footprint
Very few institutions have cash climate strategy but over 50% are recycling their unfit banknotes
G+D and CPS are ‘most approved’ for banknote sorting
Just over half of survey sample endorses Munich-based manufacturer
Websites are top currency communication tool
More than two thirds of currency managers use social media; regional disparities emerge on preferred communication tools
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; lower-income countries most likely to outsource
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%