Currency
Book notes: The curse of cash, by Kenneth S Rogoff
A well-written book and sincerely argued, but it is based on weak economic analysis and inadequate economic and political history
Serbian central bank report indicates slow progress on reversing ‘euroisation’
Most loans and deposits in the country are still denominated in foreign currency, National Bank of Serbia report shows
Bahamas launches new banknote series with innovative security thread
Central Bank of Bahamas launches “Crisp Evolution” series, the first “circulation banknote” to feature new colour-changing security thread; $10 note to enter circulation immediately
Inclusion of renminbi in SDR is ‘symbolic’, says Bernanke
Former Fed chair sees inclusion of renminbi in SDR basket as a ‘symbolic’ gesture rather than a major shift; Eswar Prasad argues currency will never be a safe haven
Crane invests $100 million in new banknote plant
New banknote facility in Malta to add to existing operations in Sweden and the US, employing 200 people
Indonesia to launch new banknote and coin series with a ‘bang’
New banknote and coin series featuring Indonesian “national heroes” to launch later this year; smallest coin will not feature in new series
Mark Carney: it would ‘make sense’ to get rid of UK penny
“What’s the point of the penny?” – children quiz BoE governor; Carney says as inflation rises, there might be reason to abolish the low-value coin
Zimbabwe to print $75 million in ‘bond notes’ in 2016
Reserve bank to issue US dollar-“equivalent” notes despite criticism from the general public; incentive facility to be backed by Afrimexbank
New facility opens to print £10 notes, as £5 enters circulation
Substrate for UK’s new £5 banknote, launched today, was produced in Australia because new facility was not yet ready; Innovia says new plant will make use of the latest technology
Fiat currencies stand firm against bitcoin
The cryptocurrency is a victim of its own success as strong demand pushes its price up, increasing speculative flows
Volatility in virtual currencies will not deter usage – new research
Model implies exchange rate will become less volatile as virtual currency becomes more established, questioning idea that volatility will impede use
BoE exhibition to juxtapose new fiver with historical banknotes
BoE to open currency gallery a week before the launch of the new £5 note; museum to feature banknotes from eras throughout history
RBA launches first banknote with edge-to-edge window
Twelve-year project cost the bank $37 million; new series to feature pioneering security elements and is the first to trial tactile features for the visually impaired
Gibraltar to launch polymer £100 note
New note will be the first polymer banknote for Gibraltar; De La Rue to use ‘Safeguard’ substrate for new banknote, which will be issued “soon”
De La Rue boosts Africa presence with Kenya deal
Kenyan factory to be turned into production “centre for excellence”; printer hopes new equipment installed at site will increase banknote production by 50%