Coins
Trinidad and Tobago scraps 1 cent coin
New coin composition and withdrawal of small denomination expected to save millions; new rounding system will see cash payments made easier
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
UK launches new £1 coin
New £1 is the “world’s most secure coin”, mint claims, integrating new security features previously used solely for banknotes; businesses have until October 2017 to recalibrate machines
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
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
Sama unveils new banknote designs with updated features
Six denominations to feature new security thread and improved features for the visually impaired; new coin design also launched by Saudi central bank
Bank of Korea embarks on ‘coinless society’ project
Central bank wants to eradicate use of coins by 2020; first stage of the project to use electronic travel passes to pay for goods and services
Seychelles issues first full banknote series in 18 years
The central bank spends around $2.6 million producing new series; SCR10 note transformed into coin in the new series, while the SCR500 note gets a facelift
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
Sarb mulling changes to cash distribution process
South African Reserve Bank review finds ‘inefficiencies’ in current framework; changes could include alterations to the bank’s ‘branch footprint’ and supply chain
Sri Lanka invites bids to mint 970 million coins
Central bank calling for four denominations of coin to be minted by end-March 2019; looking for mints with experience of supplying foreign countries with circulation coins
Denmark outsources coin minting to Finland
Mint of Finland wins tender to produce krone coins, as National Bank of Denmark seeks to cut costs by closing down its coin and banknote operations
National Bank of Angola opens currency museum
The museum receives 2,000 visitors in its first four days; exhibits the history of the currency, from sea shells to today's banknote series
UK mint starts production of ‘ground-breaking’ pound coins
Elements from the emblems of all four UK nations will feature on reverse of the coin; details of certain counterfeiting features revealed
RBA’s Richards sees possibility for digital Australian dollar
New card regulation to be ready by May, says Richards; digital currency a possibility in the ‘more distant future’, but RBA not ‘actively considering’ it
Argentina to issue three new banknote denominations
Top-value 100-peso note to be eclipsed by new currency; 200- and 500-peso notes will launch in first half of 2016, with 1000 peso note following in 2017
Riksbank launches app as drive to publicise new notes and coins accelerates
Central bank’s first smartphone app helps public identify counterfeit banknotes and features voice-over by Stefan Ingves; part of communications push ahead of new banknote and coin series
Ireland to phase out one- and two-cent coins
Central bank will lead project that will see cash payments rounded to discourage use of low-value coins; decision follows successful trial in 2013
ECCB sees sense in scrapping cents
Eastern Caribbean Central Bank insists ‘everyone will benefit from the withdrawal’ of one and two cent coins from July, as they are expensive to produce and carry very little purchasing power
Public to vote on design of €2 commemorative coin
Eurozone residents invited by European Commission to pick one of five designs for a coin marking the 30th anniversary of the EU flag; partly a tool for raising awareness of economic governance
Angolan central bank rejects public designs for new coins
Applicants failed to meet the requirements of the competition launched for the design of two new coins. The National Bank of Angola will now develop the motifs of the 50 and 100 kwanzas
Coins and notes with same value to circulate in Angola
Angola’s central bank will issue two new coins in November, of 50 and 100 kwanzas, which will circulate with equal denomination banknotes
National Bank of Denmark to outsource production of banknotes and coins
The National Bank of Denmark will outsource all of its printing and minting services to an external supplier in 2016, with an estimated saving of $17 million by 2020
National Bank of Belgium to close half its remaining branches
Belgian central bank reveals plans to close its branches in Mons and Hasselt in 2016, which are predominantly involved in processing cash