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The Bank of the Lao PDR will issue a 100,000 Kip banknote early February in a bid to encourage more people to use the national currency. Speaking at a press conference in Vientiane yesterday, Currency Issuing Department Director General Mr Souphat Khotnhotha said the main purpose of putting the 100,000 kip note in circulation was to make it easier for people to make cash payments.
With the proliferation of trade, frequent cash transactions are becoming an increasing necessity. “With 100,000 kip banknotes, people won’t need to carry so many notes around with them to pay for goods and services,” he said, adding that many people prefer to use foreign currencies as they are easier to carry. At present, the highest value kip banknote is 50,000 kip (US$6) while the highest value Thai baht banknote is 1,000 baht (US$32).
Mr Souphat said the new 100,000 kip note is worth US$12, and this higher value will encourage more Lao people to use their national currency. Economists say the Bank of the Lao PDR will find it easier to manage money supply and keep foreign exchange rates stable if everyone uses the kip in cash transactions.
In response to public concerns that inflation would rise with such a large banknote in circulation, Mr Souphat said it would not result in an increase in money supply. “The supply of money will remain unchanged,” he said. He explained that the presence of the 100,000 kip note would not put any more money into people’s pockets so there was no need to worry about a rise in inflation. He also said the Bank of the Lao PDR would ensure that circulation of both small and large denomination banknotes was sufficient to enable people to pay for goods and services of varying prices. The new banknotes have been printed overseas, and contain a security feature that prevents them from being counterfeited.
Many people have complained about the short supply of small denomination banknotes in circulation, which they need to give as small change. They also said the shortage led to inflation because vendors set prices based on the availability of banknotes. Bank of the Lao PDR officials say that traditional merit-making ceremonies are partly to blame, because so many notes are damaged in the process and it is impossible for the bank to ensure a constant supply of small denomination notes. They said the cost of printing both small and large denomination banknotes was similar, and that constantly having to print more small notes was a costly undertaking.
Source: Vientiane Times
20 Dollars SCB - courtesy Noteshobby @ebay
20 Dollars BOC - courtesy Noteshobby @ebay
New 2010 Series Hong Kong 20 Dollars banknotes have now been issued by all 3 banks. Above are from the Standard Chartered and Bank of China. 20 Dollars of HSBC can be viewed at Hong Kong: New Series 20 Dollars note HSBC.
20 Dollars HSBC - courtesy Noteshobby @ebay
New 2010 Series Hong Kong 20 Dollars banknotes have now been issued. Above is from HSBC. Notes with same denomination from Standard Chartered and Bank of China are also expected any time soon.
P114 100 Baht note with sig 83
100 Baht notes from series 15 are now issued with the signatures of Thirachai Phuvanatnaranubala as Finance Minister and Dr. Prasarn Trairatvorakul as Governor of BOT.
P109 20 Baht note with sig 83
Thailand's Series 15 banknotes are going to be soon replaced by the new Series 16 on 18th January 2012 starting with the 50 Baht note. However, Series 15 notes are still being printed with the signatures of Thirachai Phuvanatnaranubala who recently took over as Finance Minister and Dr. Prasarn Trairatvorakul as Governor of BOT.
50 Baht obverse with sig 83
On 12th January 2012, Dr. Prasarn Trairatvorakul, Governor of Bank of Thailand announced that the long awaited series 16 banknotes will be issued on 18th January. The first banknote of this series to be issued will be the least used 50 Baht followed by the most widely used 20 and 100 Baht notes. The 500 and 1000 Baht notes will follow later during the year.
Press release of BOT on 12th January 2012.
The Central Bank of Malaysia (Bank Negara Malaysia) has announced a new series of banknotes themed “Distinctively Malaysia". This 4th series banknotes will be issued sometime in 2012 and will have denominations of RM1, 5, 10, 20, 50 and 100. The RM1 and RM5 will continue to be polymer.
For more details see
Bank Negara Malaysia - THE NEW SERIES OF MALAYSIAN BANKNOTES.
The Bank Of the Lao PDR (BOL) issued a new 2000 Kip banknote on 1st December 2011 a day before the 36th national day of the Lao Peoples Democratic Republic. Director General of the Currency Issuing Department of the BOL, Souphat Khotnhotha told a press conference recently that this small denomination banknote, printed in Laos, is made from better quality material and brighter than the 2000 Kip notes issued in 2003.
His Majesty King Bhumibol Adulyadej of Thailand will turn 84 (7th cycle) on 5th December 2011. To celebrate this auspicious occasion, Bank of Thailand (BOT) has announced a commemorative 100 Baht banknote.
HM King is also referred to as King Rama 9 as he is the 9th King of the Chakri dynasty. A total of 9,999,999 notes will be available on 2nd December and will be sold at 200 Baht each.
The size of the banknote will be 162 x 84mm to reflect 1+6+2="9" and "84" years.
The serial number will begin with 9 K / 9 ธ ("K" and "ธ" stands for "King/พระมหากษัตริย์")
The Reserve Bank of India will shortly issue 10 Rupees denomination banknotes with the Rupee symbol. These banknotes will be very similar to the existing Mahatma Gandhi Series and will carry the signature of Dr. D. Subbarao as Governor RBI, will be without inset letter and will have the year 2011 printed on the reverse.
This banknote follows the issuance of coins with the Rupee symbol recently.
For more details see press release of Reserve Bank of India on 23 September 2011.
The new series of coins bearing the rupee symbol has been issued recently but only 1, 2 and 5 Rupee coins seem to be circulating. The bimetallic 10 Rupees coin is very rarely found. Several collectors have posted images of their proud collection of this series on the internet. One such blog is India Coins Collections
All denominations, except 50Baht, of Series 15 banknotes now carry signatures (sig 82) of - Korn Chatikavanij (ex-Finance Minister) and Dr. Prasarn Trairatvorakul as Governor BOT.
500Baht - P107 sig 82
Image from ebay
It is also reported that the first denomination for Series 16 banknotes will be 50Baht with sig 83 - newly appointed Finance Minister, Mr. Thirachai Phuvanatnaranubala and Dr. Prasarn Trairatvorakul (Governor BOT). This needs to be seen as it has always been the most widely used 20Baht and 100baht notes which are issued first.
