Archive for March 22nd, 2018

Ukraine to replace small denomination banknotes with coins

March 22, 2018

The central bank announced this decision:

The National Bank of Ukraine in line with the policy on optimization of cash circulation in Ukraine has presented new circulating coins of UAH 1, 2, 5 and 10 denomination. These coins will in time replace the respective banknotes in circulation.

New circulating coins will be introduced step-by-step:

–         first step – on 27 April 2018 coins of UAH 1 and 2 denomination will be introduced into circulation.
–         second step will be implemented later, UAH 5 and 10 coins will be introduced in 2019-2020 (the NBU will name the specific date later on).

Ukrainian citizens will make payments with both new coins and banknotes of respective denominations for an unlimited period, until the coins gradually replace the banknotes in circulation. Thus, paper money of UAH 1, 2, 5 and 10 denomination will be in circulation along with the coins until the last paper hryvnia.

The NBU will not remove UAH 1, 2, 5 and 10 banknotes from circulation, but will cease printing these banknotes and use such to additionally replenish cash in circulation.

The reason behind this is the longevity of coins over notes:

(more…)

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Bhutan’s commemorative baby prince banknotes: Cutest banknotes?

March 22, 2018

Via this bit of news which says Singapore Mint will be auctioning commemorative Bhutan banknotes to celebrate the first birthday of their prince.

The notes look like this:

Bhutan crown prince Jigme notes both sides

Really cute. Isn’t it?

 

Posted in Central Banks / Monetary Policy, Discussion | 1 Comment »

The Rothschilds, a pamphlet by ‘Satan’ and anti-Semitic conspiracy theories tied to a battle 200 years ago

March 22, 2018

 Michael S. Rosenwald has a piece in WaPo:

In early 2011, a branch of the very rich Rothschild family bought a controlling stake in Weather Central, a provider of weather forecasts to hundreds of broadcasters.

“As weather becomes more extreme around the planet, with greater human and financial ramifications,” Sir Evelyn de Rothschild said in a news release, “we believe that Weather Central will play a major role in mitigating damage and improving lives.”

This was big news in meteorology and broadcasting circles: It appeared that the Rothschilds, a prominent business family, wanted to take on the Weather Channel to expand its media holdings.

This was also big news for conspiracy theorists: To them, it appeared as though the Rothschilds, a prominent Jewish family that made a fortune in European banking in the 1700s, wanted to control the weather and profit from natural disasters.

The Rothschilds’ supposed control of the weather — a charge peddled last week by D.C. Council member Trayon White Sr. (D-Ward 8) before he apologized for offending anyone — is just one of dozens, perhaps hundreds, of unproved, bizarre and anti-Semitic allegations that have been leveled against the Rothschilds for centuries.

There is more in the article..

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Masazumi Wakatabe, an economic historian appointed as Deputy Governor of Bank of Japan…

March 22, 2018

This is interesting bit of news. One rarely sees economic historians being appointed for key policy positions.

However, Prof. Masazumi Wakatabe of Waseda University has been appointed as the Deputy Governor of Bank of Japan.

I hope we see more economic historians at key positions in other central banks too. If not at the level of Governor or Deputy Governor, they should be fairly senior to ensure some amount of historical research and preservation of key documents is happening continuously…

Posted in Central Banks / Monetary Policy | Leave a Comment »

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