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The design is being released today to facilitate this ongoing work with the industry as well as staff training to ensure a smooth transition when the banknotes are released later this year.
The number of counterfeits remains very low compared with the number of genuine banknotes in circulation, which has risen steadily, at rates above GDP growth, since they were introduced.
The CBA took such a measure with the aim of strengthening the fight against the circulation of counterfeit banknotes, according to the source.
Most circulating banknotes were those with a value of 20 crowns (10.
In celebration of the coming Year of the Dog, the Bank of Taiwan launched on Thursday a limited edition of a Disney silver banknote that is intended to woo Disney fans and banknote collectors.
The new NGC banknotes now bear the signature of Espenilla, took over the helm of the central bank in July, making him the fourth governor of the BSP.
Before this innovation, foil-based security features on banknotes were typically restricted to one colour, silver, which limited the design integration opportunities of the foil with the rest of the banknote design.
It will be the first time the bank has issued commemorative banknotes.
The CBE has been widely criticised due to the expansion in its issuance of banknotes.
This, however, resulted in availability of both types of Rs 500 banknotes viz issued during 2006-2009 without OVI, and issued w.
SBP, thus, has decided to phase out all remaining old design banknotes of Rs 10, 50, 100 and 1000.
It should be noted first that the change in mass of banknotes in circulation had already been made in 2011 (50 and 20 TD Notes) and 2013 (10 and 5 TD Notes).