Demand
UK’s Royal Mint challenges coin-note boundary
Director for circulating coin claims new feature will allow the new £1 coin to challenge low-denomination banknotes in terms of security
BoJ’s Nakaso says digital currencies would allow ‘wider access’ to payments
Replacing banknotes with digital currencies would be “extreme”, deputy governor says, but would allow “wider access” to central bank payment infrastructure
HKMA investing in digital currency prototype
HKMA continues to build on its DLT research through digital currency venture with commercial banks; previous projects show potential to improve efficiency and transparency
RBA opens new ‘highly secure’ banknote vault
Australian central bank makes first investment in banknote storage and distribution in over a decade; Lowe says public have come to “rely” on “secure and high-quality” banknotes
BoE considers palm oil as tallow alternative for polymer notes
Bank of England issues polymer consultation after tallow controversy; palm oil will add £5 million to printing costs if adopted
IMF working paper examines the impact of “de-cashing” on monetary policy
IMF working paper examines the impact of “de-cashing” on monetary policy, claiming transmission would become “easier” and “faster”
MAS considers revising limits on coin payments
Singapore central bank mulls blanket restriction of 10 coins per denomination in a single transaction; new arrangement would align the country with Norway and Switzerland
RBI research: demonetisation hit growth but helped inclusion
Authors find scrapping high-value notes impacted Indian growth and inflation but pushed many people to open bank accounts and improved policy transmission
How Venezuela can stop hyperinflation – now
Redenominating the currency will only prolong the pain, says Steve Hanke. More drastic measures are needed
MAS unveils new DLT plans for securities and cross-border payments
Success of initial project leads authority to launch two 'spin-off' projects, including a possible cross-border application of central bank-issued digital currency
Bank of Spain upgrades cash-handling directorate
New directorate-general will handle regional branches and banknote production
RBI’s Gandhi thinks blockchain’s capabilities are being ‘overstated’
Deputy governor says virtual currencies issues on a blockchain network pose a number of risks; fintech industry starting to wake up to blockchain’s “exaggerated” benefits
Cash is here to stay – SNB’s Zurbrügg
SNB official says reports of cash’s “death” are “exaggerated”; central bank has no plans to stop printing banknotes as its popularity remains
Delayed banknotes arrive in Venezuela
Thirty billion bolivars of notes finally shipped from Sweden, says central bank director; further denominations expected by the end of the month
Seychelles to demonetise old 100- and 500-rupee notes
Improved security features need to be “put to best use”, says the central bank; the general public have until June 29 to spend or exchange the old banknotes
BoE says launch of £10 to go ahead, despite tallow traces
UK central bank will continue to print the £10 on the same substrate as the controversial fiver; options may be reconsidered for the £20
Banknote and currency services provider of the year: Crane Currency
Leading micro-optics provider continues to deliver a full range of services from design to print to a large number of central banks around the world to ensure integrity of cash
Payments and market infrastructure provider of the year: VocaLink
The UK payments provider has built on domestic success to support real-time payments in Thailand and the US
PBoC issues second warning to bitcoin exchanges
Nine platforms told to enforce AML and forex regulation if they are to continue operating within China; bitcoin price holds firm against news
Philippines central bank enforces virtual currency regulation
Exchanges will have to apply for certificate of registration and implement specific risk management framework; central bank imposes transaction limit
ECB reports 20.7% drop in number of counterfeits
Number of counterfeits ticked up in the second half of 2016, but annual figures are down; €50 note still dominates in terms of counterfeit volume, with new note to be released in April
RBI signals end to cash controls
Central bank prepares to lift restrictions on cash withdrawals but shift from “demonetisation” to “remonetisation” is only partially complete
Swift records 29.5% decline in renminbi payments
Canadian dollar overtakes renminbi to become fifth most used for international payments; latest data shows slowdown of Chinese economy as well as volatility in exchange rate could be to blame
IMF: Indian demonetisation to have ‘limited impact’ on Nepal
Some households have been affected, the IMF says, but holdings of Indian rupees were “small”; the Central Bank of Nepal is offering an exchange facility to those wanting to exchange cash