"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.