The Bank Negara Malaysia has denied claims circulating on social media that new 1-, 5-, 50- and 100-ringgit banknotes would be issued in 2017.
The Central Bank stated that it "would like to confirm that this news is not true. The current series of banknotes will continue to be legal tender and remain in circulation”.
Picture on the website of the Bank Negara Malaysia:
The Bangko Sentral ng Pilipinas (BSP: the Central Bank of the Philippines) has issued the first banknotes with the signature of President Rodrigo Duterte who has been president of the Philippines since 30 June 2016.
"BSP Deputy Governor Diwa Guinigundo said the new bills are similar to those released in 2010 that bore the signature of then President Benigno Aquino III. It features the country's natural wonders and endemic species, such as the Tubbataha Reef and the tarsier."
The Bank of Korea announced in May of this year that in commemoration of the Winter Olympics 2018 which will be held in Pyeongchang from 9 - 25 February 2018 a special banknote will be issued. South Korea follows in the footsteps of China and Russia who also issued special commemorative banknotes celebrating their Olympic games of 2008 and 2014.
The Bank of Korea has now revealed what the new note will look like. "The commemorative note is 140 millimeters wide and 75 millimeters long. The front of the note will feature athletes engaging in seven of the key winter sports events -- speed skating, ski jumping, ice hockey, curling, biathlon, bobsleigh and luge. The other side portrays a tiger and a pine tree, both believed to symbolize the nation, as in the famous “Songhamaenghodo (...)” painting by a leading painter from the Joseon-era, Kim Hong-do (1745-1806 (...)), who went by the pen name Danwon (...)."
I really like the design of this note, especially the subdued color scheme and the combination of modern sports and the classic painting on the back. And as a 'Dutchie' I think the speed skating on the front is very cool of course. The new note will be available for the public at the end of 2017.
Update 11-10-2017: the new note will be available from 17 November 2017.
Update 28-11-2017: the release date has now been postponed to 14 December 2017.
The Central Bank of Nepal (Nepal Rastra Bank) has issued a new banknote of 20-rupees on 16 December 2016.
On the front of the red note we see Mount Everest (Chomolungma) left and a watermark of the national flower 'Rhododendron' in the right side. There is a signature of Governor Dr. Chiranjibi Nepal in the lower part of the note, and there is date mentioned as B.S.2072 in Nepali in the border.
The back shows two swamp deer (Barasingha) and the bank logo, the text 'NEPAL RASTRA BANK' in English and the text RUPEES TWENTY and 2016 A.D.
Information and images courtesy of Shankar Shrestha of www.nuphil.com.
The Bank Indonesia has issued a new series of banknotes on 19 December 2016. The new banknotes were announced last September and feature the faces of Indonesian heroes.
Although the Bank Indonesia issues the banknotes, the name on the notes reads: "Negara Kesatuan Republik Indonesia" (The Unitary State of the Republic of Indonesia) instead of "Bank Indonesia".
The people on the new notes are:
Update 23-12-2016: better pictures below:
The Swiss National Bank (SNB) has issued a speech transcription in which the speaker mentions that the new 20-francs banknote will be unveiled on 10 May 2017 and the new note will be issued to the public on 17 May 2017. From earlier reports we know that the new 20-francs note will be red and have Light as its main theme.
Issuance of the third denomination, the 10-franc note, is planned for autumn 2017. The exact date will be announced in due course. The 10-francs note will be yellow and have Time as its theme.
The Saudi Arabian Monetary Authority has officially presented the new sixth series of banknotes. The new series has five denominations from 5- to 500-riyals.
Several images were leaked in the social media but below are the official images of the new notes and a video of the presentation. In my opinion, they look pretty nice!
5 riyals
Front: King Salman bin Abdulaziz Al Saud and the Shaybah oil field.
Back: Flowers of Saudi Arabia
10 riyals
Front: King Salman bin Abdulaziz Al Saud and the view of the Murabba Palace square in Riyadh.
Back: King Abdullah Financial District in Riyadh
50 riyals
Front: King Salman bin Abdulaziz Al Saud and the Dome of the Rock in Jerusalem.
Back: Al-Aqsa Mosque in Jerusalem.
100 riyals
Front: King Salman bin Abdulaziz Al Saud and the green dome of the Prophet's Mosque.
Back: the Prophet's Mosque in Medina.
500 riyals
Front: King Abdulaziz bin Abdulrahman Al Saud and the Kaaba
Back: Great Mosque of Mecca
Video:
If a country is constantly making headlines regarding its money, it's usually not a good sign. The Central Bank of Venezuela is preparing for its new higher denominations to be issued from 15 December 2016, but in the mean time they're withdrawing the current highest denomination, the 100-bolivares note.
This move was needed to help stop criminal gangs profiteering on Venezuela’s border with Colombia, president Maduro said. Venezuelans have only 10 days to exchange their notes at the Central Bank. With the 100-bolivares being worth only 2 US cents one can question the effectiveness of this measure.
According to ArabNews.com the Saudi Arabian Monetary Agency announced on Sunday that its name has been changed to Saudi Arabian Monetary Authority. SAMA, the bank's acronym, remains unchanged.
Also, Asharq Al-Awsat reports that the SAMA will reveal a new series of banknotes on Tuesday 13 December 2016. The new series will have a new design and updated security features. A spokesperson of the SAMA has also made clear that there will be no 1,000-riyal note.
Update 13-12-2016: Ahead of the planned unveiling some photos of the new banknotes are already circulating online (for instance at Banknotenews.com). More to follow soon:
Update 13-12-2016: And a video with the new banknotes:
Update 14-12-2016: the pictures have been officially published.
The German news site Deutsche Welle reports that Iran is considering changing the currency from rial to toman. Iran has had the rial as its currency since 1932 but unofficially people have been using the name toman ever since with 1 toman being 10 rials.
The possible renaming of the currency is part of a longer process which started in the 1980's. The issue has re-emerged from time to time because of the low value of the rial and rising inflation. From Wikipedia: "On 12 April 2007, the Economics Commission of the Parliament announced initiation of a statute in draft to change the currency, claiming redenominations had helped reduce inflation elsewhere, such as in Turkey. In 2008, an official at the Central Bank of Iran said the bank plans to slash four zeros off the rial and rename it the toman. The bank printed two new travelers cheques, which function quite similar to a banknote, with values of 500,000 and 1,000,000 rials. However, they have the figures "50" and "100" written on their top right hand corners, respectively, which is seen as the first step toward a new currency.
In 2010, President Mahmoud Ahmadinejad announced that Iran would remove three zeros (not the four that had been proposed) from its national currency as part of the economic reform plan.
In April 2011, it was reported that the Central Bank is working on a six-month redenomination project to cut four zeros from the national currency and replace old bank notes with new ones, similar to the redenomination of the Turkish lira and introduction of the Turkish new lira in 2005.
A website to poll the public on the redenomination plan was launched on 21 July 2011; the public was allowed to vote on how many zeroes to cut and what the new currency's name should be. Preliminary results indicate that four zeroes would be cut (in line with the government's recommendation) and that the name will be changed to Parsi."
So now it seems they're going for the toman after all. Which makes sense since everybody on the street is already using this name.
Update 12-12-2016: a deputy governor of the Central Bank of Iran has mentioned that we can expect new banknotes early 2017 if the Cabinet plans are approved by the parliament.
The Bank of Canada has chosen Viola Desmond (1914-1965) as the face of the next 10-dollar banknote of the new series. She is the second woman after Queen Elizabeth II but the first Canadian woman to feature on a banknote.
She was selected from a short list of five 'banknoteable' women which was publicized last November. From the website of the Bank of Canada: "Viola Desmond remains an icon of the human rights and freedoms movement in Canada. A successful Nova Scotia businesswoman, she defiantly refused to leave a whites-only area of a movie theatre in 1946 and was subsequently jailed, convicted and fined. Her court case was the first known legal challenge against racial segregation brought forth by a Black woman in Canada." You can read more about her here.
So what's next? The Bank of Canada: "The Bank will now begin to design this new $10 note featuring the portrait of Viola Desmond. Through consultation with subject matter experts, the reverse side of the note will depict symbols and images that represent the broader themes of social justice and the struggle for rights and freedoms.
To continue to celebrate more iconic Canadians, the next $5 note will also feature a new portrait subject and supporting imagery. In due course, the Bank will launch another consultation process to seek input from Canadians on the design of the next $5 note, building on the success of this most recent process.
This will be a few years in the making. The new $10 note is expected in late 2018, and the new $5 note will follow a few years after that, but soon enough two new notable Canadians will be celebrated on our currency. The subsequent notes (the $20, $50 and $100 notes) will follow every two to three years.
As Viola Desmond will be featured on the $10 note, and another iconic Canadian will be featured on the future $5 note, Canada’s first Prime Minister, Sir John A. Macdonald, and our first francophone Prime Minister, Sir Wilfrid Laurier, will be honoured on our higher value bank notes. This will take place when the higher value notes are redesigned for the next series.
These changes mean that former prime ministers William Lyon Mackenzie King and Sir Robert Borden will no longer be portrayed on bank notes. The $20 denomination will continue to feature the reigning monarch."
Lots of people in Britain are curently rubbing their new 5-pound banknotes. Are they looking for strips of bacon after the recent animal fat scandal? No, they're looking for a potential fortune.
Engraving artist Graham Short has engraved the image of writer Jane Austen in miniature on 4 new 5-pound notes and issued them quietly to the public. Based on previous work done by him, estimates of the worth of these little pieces of art are skyrocketing to 50,000 pound at the moment.
The engravings, which are next to Big Ben on the holographic foil, are invisible to the naked eye and can only be seen in certain lights. Short has worked for two weeks on the images. He also said he only works between midnight and 5 am to reduce the traffic noise from outside and he binds his right arm to a chair to stop unnecessary body movement.
As the newspaper The Independent points out: "... Mr Short's latest project could get him into trouble with the law as it is technically an offence to deface a banknote. Under the Currency & Banknotes Act 1928, it is illegal to print, write or impress words, letters or symbols onto notes issued by the Bank of England."
If he should be fined, I think he won't get into any financial trouble: "His previous work, a picture of the Queen’s head on a speck of gold the size of the eye of a needle, recently sold for £100,000."
On this Facebook page you can find a video of the actual artwork and how it looks on the banknote (so you know what to look for).
The National Bank of Kyrgyzstan has announced a revision of its 200-, 500- and 1,000-som banknotes. They are very much like the current series but with some small differences. The image on the front is slightly different, there is a new ornament on the front which incorporates the (very cool) MASK technology by Delarue and the new notes have the year 2016 on the back. The revised notes will be issued from 1 January 2017.
So Delarue will print these 3 denominations but Oberthur is responsible for the notes of 20-, 50-, 100- and 5,000-som. No news yet when these revised banknotes will be issued.
Pictures below and a video after the click.
The Central Bank of Seychelles has issued its new series of banknotes on 5 December 2016. The new series was announced in November and consists of 4 denominations.
The theme of the new banknote family is "Seychelles' Unique Biodiversity – the backbone of our economy".
There have been numerous rumours (uno, dos, tres) that the Central Bank of Venezuela would one day issue higher denomination banknotes to deal with its gigantic inflation. When people have to take bags full of banknotes to stores where the notes are being weighed instead of being counted, you know you have a problem.
It seems the people of Venezuela can finally expect some relief because new notes are coming. You should be able to read about it in this press release, but unfortunately the website of the Central Bank is offline right now... That's not at all cause for panic right?
Anyway, the press release mentioned that we can expect 6 new denominations, starting from 15 December 2016 with a new 500-bolivares note. The other denominations will be: 1,000-, 2,000-, 5,000-, 10,000- and 20,000-bolivares. No news on the design yet.
Update 9-12-2016: Banknotenews.com has posted pictures of the new series.
