Thursday, June 27, 2013

The Central Bank of Uzbekistan to Release 5000 Sum Banknotes

28 June 2013

The Central Bank of Uzbekistan has announced the release of 5000 sum banknotes into circulation.

"Starting July 1, 2013, the Central Bank of the Republic of Uzbekistan will be issuing new banknotes worth 5000 sum," the website of the Central Bank said on June 27.

The statement provides a detailed description of the appearance of the 5000 banknote, and the description and location of security features on its both sides.

"The banknote worth 5000 sum must be accepted at face value to payment by all business entities and the public without any restrictions," the report said.

Currently, the largest bill in Uzbekistan is the banknote denomination of 1000 sum introduced into circulation in 2001.

The official exchange rate on June 27 is 2093.10 sum / $ 1

Tuesday, June 25, 2013

Jane Austen to appear on new Bank of England £10 banknote

The Telegragh
Emma Rowley
25 Jun 2013

The Bank has been working with a note featuring the writer for the past two years, Sir Mervyn told MPs, indicating that it was likely that she would appear on the £10 note when the current version stops being printed.

His comments followed fears that the imminent removal of social reformer Elizabeth Fry from the £5 note would mean there were none in circulation featuring women - other than the standard image of the Queen's head.

Sir Winston Churchill is replacing Fry on a new note which will be issued from 2016, featuring the former prime minister against a Westminster background and above the quote: “I have nothing to offer but blood, toil, tears and sweat."

"The concern is that people think that we might find ourselves in the position where there are no women in the set of historical figures on our banknotes," said Sir Mervyn. "I think that's not true.

"The reason is that on the date... when Winston Churchill notes appear for the first time, it is not the case that Elizabeth Fry disappears the next day, those notes will continue to circulate for some while. [But] well before then, the announcement of the next historical figure will have been made."

Thursday, June 20, 2013

Treasury Secretary updates signature on US banknotes

Before and after: The new signature to appear on US notes

South China Morning Post
Jun 20, 2013

Jack Lew was the senior budget adviser to President Barack Obama and President Bill Clinton. He was Obama's chief of staff. Now he is the US treasury secretary.

But despite a stellar career, his most remarked-upon trait was his unusual signature, a series of eight connected loops that looked more like an absent-minded doodle than a signature that should grace US banknotes. This week that all changed. The Treasury unveiled Lew's "official" signature, which will be on the US$5 bill this autumn and other currency as it is issued over the years. Lew had promised Obama that he would sign his name more legibly as a condition of his nomination.

"Jack assures me that he is going to work to make at least one letter legible in order not to debase our currency should he be confirmed as secretary of the Treasury," Obama joked in January when announcing Lew's nomination.

At least one letter, and perhaps two, is legible in the new signature, although one might be hard-pressed to name three. To his credit, the new signature does have three separately identifiable features: a first name, a middle initial - J for Joseph - and a last name.

Lew is not the first treasury secretary to change his signature upon appointment. His predecessor, Timothy Geithner, changed his signature, too.

Now that he has selected a signature, the Bureau of Engraving and Printing staff will produce new plates for US$5 bills. The new bills will be printed by the bureau, then stored in the vaults of the Federal Reserve, which will decide when to circulate them.

This article appeared in the South China Morning Post print edition as Dollar bill's loopy Lew changes his signature

Wednesday, June 5, 2013

Fictional Bridges on Euro Banknotes Constructed in Rotterdam

Dezeen Magazine
5 June 2013

The fictional bridges depicted on Euro banknotes have been been transformed into reality at a new housing development near Rotterdam.

Dutch designer Robin Stam was inspired by the seven images of archetypal bridges originally created by Austrian designer Robert Kalina to represent key phases in Europe's cultural history.

The illustrations on the banknotes show generic examples of architectural styles such as renaissance and baroque rather than real bridges from a particular member state, which could have aroused envy among other countries. "The European Bank didn't want to use real bridges so I thought it would be funny to claim the bridges and make them real," Stam told Dezeen.

The local council responsible for constructing a new housing development in Spijkenisse, a suburb of Rotterdam, heard about the idea and approached Stam about using his designs.

"My bridges were slightly more expensive but [the council] saw it as a good promotional opportunity so they allocated some extra budget to produce them," says Stam.

The bridges are exact copies of those shown on the banknotes, down to the shape, crop and colour.

"I wanted to give the bridges an exaggerated theatrical appearance – like a stage set," adds Stam, who poured dyed concrete into custom-made wooden moulds to make them.

All seven bridges surrounding the development have been completed and are being used by cyclists and pedestrians. Stam says they have divided opinion among residents: "Some people's initial impression is that the bridges are ugly but when they find out the story behind them they find it really funny."