Banknotes in News

The National Bank of Kazakhstan issued commemorative coins in the series «Cosmos» in the denomination of 500 Tenge (bi-colour, quality «proof») and 50 Tenge (from the alloy «new silver»). They open the new series of Kazakh coins dedicated to significant events in the history of space exploration and examination of the mysteries of the Universe.

Banknotes in the denominations of 50 000 and 100 000 Won may be introduced in South Korea in the nearest 1-2 years. The question has been discussed for a long time already, and now the Ministry of Finance and Economy is finally giving up its objections to the issuance believing that large denominations won't lead to inflation or increase of forgery.

From January 2007 the Bank of Estonia has issued the new banknotes in the denominations of 2 and 10 Krooni with new security elements.

The Central Bank of Sudan has announced that since January 9, 2007 Suda-nese Pound has again become National currency of the country. It was in circulation in 1957-1992 and then it was replaced with Sudanese Dinar.

Introducing coins of large denominations is part of banking sector consolidation policy. At present a «line» between coins and banknotes in Nigeria is drawn between the 5 Naira banknote and the 1 Naira coin. Money circulation, however, requi-res the issue of coins of larger denominations than 1 Naira.

At the end of December 2006 the Banco Central Cuba released a new 2006 series of Convertible Pesos. All the denominations are the same - 1, 3, 5, 10, 20, 50 and 100 Pesos.

From July 2007 the Bank of Ghana will introduce new Cedi banknotes and coins to replace the existing ones. The old banknotes and coins will be re-denominated by setting 10 000 Cedis to one new Cedi.