Currency
Korean officials argue for stablecoin authorisation body
Central bankers warn of currency substitution and monetary policy risks
East Africa governors discuss delayed single currency launch
Leaders adopt “masterplan” to modernise and integrate payments systems
Bank of Burundi issues ‘world’s largest banknote’
Commemorative bill measures 400mm by 288mm and is on sale at €2,200 apiece
Hedge funds burned as Hong Kong dollar bets implode
However, market participants still seem satisfied with the HKMA’s commitment to defending currency peg
SNB to hand out cash earmarked for exchange of defunct notes
Up to $1.07bn, previously reserved for bills that were never exchanged, will go to government and aid
What drove the Taiwan dollar surge?
Foreign speculators, carry unwinds and central bank inaction fuelled the 10% move, not just life insurers, say traders
Taiwan says currency surge unrelated to trade talks with US
Rumours of “Mar-a-Lago accord” causing NT$ appreciation are “false”, central bank says
De La Rue completes sale of authentication division
Banknote maker to focus exclusively on currency business
UK government ‘must act against decline in cash acceptance’
Parliamentary committee suggests firms could be made to accept cash to protect those who rely on it
Lebanon to introduce new banknotes
Parliament authorises issuance in response to high inflation and long-term depreciation of pound
‘This is not a wobble’: Brunello Rosa on the path to de-dollarisation
Digital currencies will play a central role as China challenges US hegemony, says economist
Knot becomes ‘cautious believer’ in euro internationalisation
DNB chief says EU’s institutions must be robust and its finances sustainable if it’s to attract investors
Turkey and Kazakhstan agree currency swap line
Central bank governors sign deal worth $730m in Washington
PBoC to help Chinese firms boost overseas investment
Central bank to facilitate yuan internationalisation amid external uncertainty, deputy governor says
Tracking the changing cash cycle: a global analysis
Antti Heinonen highlights sharp declines in note-return frequency and destruction rates
De La Rue agrees to £263m takeover by US group
Banknote maker rejects last-minute counterbid in favour of cash offer
Rewriting the monetary balance sheet
Biagio Bossone and Massimo Costa write that a new accounting approach is needed for central banks and commercial money in the digital age
Jamaica to phase out cotton banknotes by July
Central bank says denominations between 50 and 5,000 Jamaican dollars will be affected
Bank of Spain denies it is withdrawing €50 bills
Central bank says UK tabloid stories are the result of fake news rather than fake notes
Banknotes: January to March 2025
A round-up of news and salient issues that have affected central bankers in the past three months
US dollar dominance: beyond the ‘exorbitant privilege’
Biagio Bossone argues that dollar ‘seigniorage’ extends into the very structure of global finance and its ‘exorbitant privilege’ is worth up to $804 billion annually
Iran releases 2 million rial banknotes
New series of high-value notes introduced as value of currency continues to fall
Eurosystem sees small rise in counterfeiting over 2024
€20 and €50 notes remain the most popular denominations to replicate
Fed study suggests fewer fake dollar bills are in circulation
Research suggests number of counterfeit notes has fallen eightfold since 2006