Banknotes
Bulgarian lessons from entering the eurozone
Sofia’s uneasy membership in the currency bloc, five months in
The role of high-denomination banknotes
High-value notes are an important store of value and remain in demand during crises
Banknotes: January to March 2026
A round-up of news and salient issues that have affected central bankers in the past three months
Currency manager: Central Bank of Curaçao and Sint Maarten
The central bank overcame a nine-year hiatus to launch the Caribbean guilder
BoE takes a walk on the wild side with banknote designs
Public votes to replace historical figures with wildlife, but plans incur backlash from some quarters
Financial stability initiative: Central Bank of Bosnia and Herzegovina
A holistic approach is enabling the central bank to reinforce financial stability, despite country’s challenging institutional set-up
Counterfeit notes continued to decline in Europe in 2025
ECB records ‘one of the lowest levels’, though Belgium, Cyprus and Czech Republic see uptick
Swiss National Bank announces new banknote designs
Central bank commissions Swiss firm Emphase to design new bills
Bolivian authorities burn cash following plane crash
Central bank revokes legal tender of notes transported via military cargo plane that crashed in El Alto
Book notes: Before the Fed, by Jon Moen and Mary Tone Rodgers
A significant contribution to understanding private-sector financial crisis responses, relevant to today’s lender-of-last-resort function
Ex-ECB official: central banks need to vouch more for CBDCs
Monetary authorities have been cornered by banking industry, argues Ulrich Bindseil
MAS and HKMA aim to green red envelopes over Lunar New Year
Monetary authorities encourage the giving of used notes or electronic cash gifts to cut waste
Kenya warns against ‘cash flower bouquets’
Floral-style gifts made of glued-together banknotes disrupt ATMs and are illegal, says central bank
Bulgaria becomes 21st member of the eurozone
Joining currency bloc is a “sign of belonging”, says governor Radev, as peers offer welcome
Renato Gomes on Pix, Drex and digital asset regulation
Brazil’s deputy governor speaks with Christopher Jeffery about pros and pitfalls of open finance, financial inclusion and crime on Pix, and the need to sideline DLT for Drex phase 3
2025: The year in central banking
A look back at the biggest and most popular stories of the year
Book notes: Money in crisis, by Ignazio Angeloni and Daniel Gros
This book should be essential reading for policy-makers at a time of uncertainty and technological change
Richard Doornbosch on central banking in a tempestuous climate
The president of the Central Bank of Curaçao and Sint Maarten speaks to Christopher Jeffery about addressing legacy financial scandals, transition to a Caribbean guilder, tapping gold holdings and managing a currency peg at a time of US policy uncertainty
Fiji launches first all-polymer banknote series
Crane Currency supplies five denominations that will enter circulation in January
ECB’s Evelien Witlox on design choices for the digital euro
The digital euro’s program director speaks about holding limits, waterfall arrangements, programmability, blockchain usage and offline ‘secure elements’ for cash-like exchanges
ECB’s Cipollone reveals plans for digital euro infrastructure
Mobile app to enable “basic functionality”, with transactions processed in three different regions