Coins
Central Bank of Kenya intervenes amid coin confusion
No limits on coin distribution, central bank says, following reports initial caps remain in place
UK to retain highest denomination note
Central bank says new £50 will be printed on polymer; low-value coins also set to stay
Curaçao and Sint Maarten proposes 2021 for new currency launch
Caribbean guilder introduction hinges on governments agreeing on new monetary union
Removing low-denomination coins not inflationary - BoE research
Rounding would be applied to total bill and not individual items, paper argues
Cash usage in Switzerland below eurozone average – SNB survey
SNB’s first payments study finds 70% of transactions processed in cash in 2017
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
UK considers scrapping some currency denominations
Decline in cash usage has seen the 1p and 2p coins largely fall out of circulation
Lithuania to launch ‘digital’ commemorative coin
Central bank will host a “hackathon” to decide on technology to underpin the digital asset
Sweden must ask fundamental questions on money – Ingves
Sveriges Riksbank governor Stefan Ingves says lawmakers must act to preserve the regulation of the payments system
Denmark selects Oberthur Fiduciaire as banknote supplier
The agreement will last four years, and the first notes printed by the firm are set to enter circulation in 2020
Seychelles’ rusty rupees to be replaced
Prolonged exposure to salt water has led to rust and erosion of previous series of coins, released in 2016; UK’s Royal Mint to produce new composite coins
Bank of Canada paper investigates the ‘burden of coins’
Research sheds light on consumer behaviour when making low-value transactions with cash, suggesting cards more likely to be used if large amount of coins will be received
San Francisco Fed study: cash is not dead yet
Demand for notes and coins is “strong”, says the study, with cash in circulation growing in the majority of nations
Mauritius governor opens new currency museum named after first governor
Museum ‘Aunauth Beejadhur’ will exhibit Mauritian currency throughout the ages, with plans to expand scope to include financial literacy at a later date
Belgium’s mint to close in 2018
Coin production will be outsourced to save money, given decline in production, losing no jobs in the process, Mint official says
UK’s Royal Mint to supply 150 million Argentinian peso blanks
The UK’s Royal Mint will ship coins, along with equipment, to Argentinian mint, where engineers will help with the final design stamping
New coins to launch in Philippines in 2017, says deputy governor
Series will integrate new security features akin to those used in banknotes, but 10 cent will not be featured
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
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
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
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