"MRI BANKERS' GUIDE TO FOREIGN CURRENCY" Update 22 August 2008
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Bangladesh: Higher import-export limit.
The level at which the
import or export of foreign currency must be declared has been increased
form USD3,000 to USD5,000. Cayman Islands:
Improved 25 dollars bill. The $25 bills have
incorporated the “corner reinforcing watermark.” Its design remains
unchanged. China P.R.:
Increased import-export limit. The level at which the
import or export of foreign currency must be declared has been increased
from CNY6,000 to CNY20,000. Dominican Republic:
Improved 1,000 pesos note. The 1,000 pesos notes dated
2006 have the value in the “electrotype” watermark. Egypt: Improved
notes. The latest 5; 10; 20; 50
and 100 pounds notes have a wider segmented security thread, and a new watermark which
includes the value of the note. Hong Kong: Olympic banknote. The Bank of China issued a
$20 note commemorative of the Beijing Summer Olympic Games. Iran: Larger notes. The Central Bank has issued
this week large notes of 500,000 rials, with those of 1,000,000 rials to follow
next week. The large “bank checks” issued by commercial banks are going to be
outlawed. Kazakstan:
Commemorative note. A 5,000 tenge note
commemorative of 15 years of the introduction of the National Currency has
been issued in July. Laos: Increased
import-export limit. The level at which the
import or export of foreign currency must be declared has been increased from
USD2,000 to USD5,000. The import and export of local currency is limited
to LAK5,000,000. Larger amounts require prior permission. Macao:
Olympic banknote. The Banco da China issued a
20 patacas note commemorative of the Beijing Summer Olympic Games. Northern Ireland: New Ulster Bank note. The Ulster Bank issued a 5
pounds note date 1st July 2007. A different font has been used
for the name of the bank in
the front. Pakistan:
New Notes. The State Bank of Pakistan
has completed its new series with the release, on July, of new notes of 5 and 50
rupees. You can find pictures by clicking here
http://www.sbp.org.pk/BankNotes/banknotes.htm Rwanda: New 100
francs note. New 100 francs notes have
the new name of the bank: “Banki Nkuru y’u Rwanda.”
Samoa: New notes. The Central Bank of Samoa
has issued on July new notes of 5; 10; 20; 50 and 100 talas. These notes are hybrid,
with a little transparent oval window. More information may be found at
http://www.cbs.gov.ws/currency/currencyinuse/index.html Saudi Arabia:
Reduced import-export limits. The import or export of
currency, precious metals and jewelry with a value in excess of SAR60,000 must be
declared. Slovakia: Accession
to the euro system. Effective January 1, 2009
the euro becomes the official currency. The conversion rate has
been fixed at EUR1 = SKK30.1260. South Africa:
Mutilated currency. The Reserve Bank treats all
mutilated notes as “ink-stained” and requires a Police report for their
exchange. Thailand: New
currency import-export restrictions. The import or export of
amounts over USD20,000 or equivalent must be declared. Tonga:
New note. A 100 pa’anga note was
issued on July 25 to commemorate the Coronation of king Tupou V. Ukraine: Simplified
currency import-export rules. The import or export of
amounts in excess of 10,000 euros must be declared. Uruguay: New date. Notes of 100 pesos
uruguayos dated 2006 have appeared in circulation. These are printed by
Giesecke & Devrient. The watermark with the head of Artigas is in line with the
older series, as in the most recent ones the watermark is the same
as the portrait in the note. Uzbekistan:
Increased import-export limits. The import or export of
amounts over USD10,000 or equivalent must be declared. There is a 1 percent tax on
larger amounts. Vanuatu: Currency
import-export declaration required. The import or export of
local or foreign currency in amounts over VUV1,000,000 or its
equivalent must be declared to Customs. Vanuatu: Larger
notes planned. The Reserve Bank of Vanuatu
is seeking public comment on the possibility of issuing notes of 10,000
vatu. The largest current note is a 5,000 vatu one. Vietnam: Larger
currency import-export limits. Travellers arriving from
any country, except China, can now bring in or out VND15,000,000 or
USD7,000 or equivalent. Zimbabwe: New
currency. The Reserve Bank of
Zimbabwe has created a new monetary unit minus 10 zeros. Inflation
continues unabated.
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©2008
Monetary Research
Institute.


