The following is a brief summary of the most interesting or important developments in the international banknote market during May 2016. News, new releases or just interesting facts.
Banknote News in Brief for May 2016
The European Central Bank announced, via a press release on the 4th of May 2016, that they would cease the production of €500 banknotes. Starting from 2018 and going forward there will no longer be any 500 Euro banknotes issued by the bank or any member states. The current €500 notes already in circulation will remain legal tender, but no new notes will be printed or issued in future.
It looks as though Libya will have two sets of circulating currency issued by competing central banks come June. According to reports from The Guardian and The Libyan Observer the eastern Central Bank of Libya (based in the city of Bayda) will be issuing at least new 50 and 20 Dinar notes come June the 1st 2016. The parallel Central Bank in the east is aligned with the the Tobruk-based parliament loyal to General Khalifa Haftar in the east, and not the UN-recognized unity government, based in the capitol of Tripoli, led by Fayez Sarraj.
Meanwhile in the Libyan town of Bin Jawad, which is situated half way between Benghazi and Misrata in the Sirte District, ISIS forces are reportedly forcing local stores to accept old Gadaffi-era banknotes that were withdrawn from circulation years ago. The prevailing theory is that the old notes were discovered in bank vaults when ISIS troops took control of the area.
Macao will be releasing new commemorative banknotes for the lunar year of the Monkey(2016) and the lunar year of the rooster(2017) this year. Both notes will be denominated 10 Pataca and are expected to enter into circulation later this year.
Guyana is set to release a new 50 Dollar banknote to commemorate 50 years of independence. Read the full story here.
New Zealand have introduced the remainder of their new brighter banknotes into circulation. The 20, 50 and 100 Dollar notes follow on the release of the 5 and 10 Dollar notes late last year. For more details you can visit our full story HERE.
Reports are circulating that Bolivia is planning to release a new series of banknotes sometime during 2018. The new banknotes will be denominated in 10, 20, 50, 100, 200 and 500 Bolivianos. This will be the fist time that a 500 Bolivianos note will be issued. However, the Minister for Economy and Finance, Luis Alberto Arce Catacora, has reportedly raised objections to this plan and the future of the new banknotes are now in question. WNN will keep you updated on any new developments as they arise.
The Central Board of the Reserve Bank Of India have submitted a complete set of designs for a new series of circulating banknotes to the government of India for approval, after the board's 557th meeting earlier this month. Unfortunately no details on the designs are available just yet.
Confirmed Minor Updates for May 2016
A new variant of India's 100 Rupee note has been spotted in circulation.The new note is identical to the older versions still in circulation with the exception of the new date, 2016, on the reverse and there is no letter inserted behind the serial number.
In Madagascar banknotes bearing the new signature appear to have now fully entered into circulation after the announcement of their issue was originally made in October of last year. Reports have now been confirmed of 100, 200, 500, 1000 and 5000 Aviary notes being received.
Namibia have issued banknotes bearing the new 2016 date on the reverse as well.
The new South Sudanese 50 Pound note has entered into circulation. The note features a new date, 2015, new signature from the older notes and the denomination numbers in the corners have been matted.
Uruguay released a 2000 Peso banknote with enhanced security features. Full details can be viewed here.
Serbia have released new banknotes with new signature, date(2016) and more detailed images of the national Coat of Arms on the reverse. So far the 5000 Dinara has been confirmed by collectors.