360° Coverage : Britain mulls issuing plastic currency notes

11 Updates
Britain mulls issuing plastic currency notes
Photo Credit: , Getty Images

Britain mulls issuing plastic currency notes

Sep 11 2013, 4:30am CDT | by IANS

London, Sep 11 (IANS) The Bank of England may begin to issue plastic banknotes in order to ensure good quality genuine banknotes that the public can use with confidence.

London, Sep 11 — The Bank of England may begin to issue plastic banknotes in order to ensure good quality genuine banknotes that the public can use with confidence. The British central bank...

Filed under: news

YouTube Videos

 
 
 

1 year ago

Britain mulls issuing plastic currency notes

Sep 11 2013, 4:30am CDT | by IANS

London, Sep 11 (IANS) The Bank of England may begin to issue plastic banknotes in order to ensure good quality genuine banknotes that the public can use with confidence.

London, Sep 11 — The Bank of England may begin to issue plastic banknotes in order to ensure good quality genuine banknotes that the public can use with confidence.

The British central bank announced Tuesday it was soliciting public opinion for approval of such notes, reports Xinhua.

According to the bank, a three-year research project was undertaken to examine different materials on which banknotes are printed. The bank reviewed the relative merits of printing banknotes on polymer rather than the cotton paper as it is at present.

Understandably, the plastic banknotes will be resistant to dirt and moisture, and are safe and more durable. These will initially be used for the new-style five-pound and 10-pound banknotes, with one denomination at a time.

The five-pound note will feature a picture of Sir Winston Churchill, and is expected to be issued in 2016 at the earliest, with the 10-pound note to follow.

If the decision is made to move to polymer banknotes, the central bank said it would also introduce smaller banknotes so that it is convenient to carry them in purses and wallets.

"Polymer banknotes are cleaner, more secure and more durable than paper notes. They are also cheaper and more environmentally friendly," said Bank of England Deputy Governor Charles Bean.

"However, the Bank of England would print notes on polymer only if we were persuaded that the public would continue to have confidence it in, and are comfortable using it," he said.

"The results of the consultation programme on which we are embarking will, therefore, form a vital part of our assessment of the merits of polymer banknotes," Bean added.

The central bank will announce the decision on whether to move to polymer in December.

Polymer banknotes are manufactured from a transparent plastic film, specially coated with an ink layer that enables it to carry the printed design features of banknotes.

The material allows the inclusion of "windows" or clear portions in the design, which enhance protection against counterfeits.

IANS

Source: IANS

 
Update
11

1 day ago

The UK Housing 'Bubble' Is Deflating

Oct 29 2014 6:03am CDT | Source: Business Insider

The Bank of England released new figures Wednesday providing more evidence that fears of a house price bubble in have been overblown. Property prices in the UK have risen sharply since hitting post-crisis lows in 2011. Over the past year along prices have risen by 7.2% across the country, with London prices up an astonishing 18.4%. Much of this is due to deferred demand from the crisis, with many ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
10

3 days ago

Bitcoin Barely Changed as Blockchain Technology Has New Supporter

Oct 27 2014 11:10am CDT | Source: Forex News

Want to Trade Bitcoin? ForexNews RecommmendsClick Here To Learn More. Bitcoin is trading barely changed after another day spent around the $350 figure. Earlier today prices fell to a low of $342.20 only to rally to a daily high of $354.30 few hours later. We are currently trading at $353 per coin on BTC-E. As usual prices are slightly higher on OKCoin at $354 and at BitStamp at $356 for one bitcoin. Here’s h ...
Source: Forex News   Full article at: Forex News
 

 
Update
9

3 days ago

Pound to Fall on Ebbing BOE Rate Hike Bets if 3Q UK GDP Underperforms

Oct 27 2014 1:12am CDT | Source: Forex News

Talking Points: Pound to Fall on Ebbing BOE Rate Hike Outlook if 3Q GDP Underperforms Yen Rose and Aussie Dollar Fell in Asia, Mirroring Slide in S&P 500 Futures Place Economic Releases Directly on Your Charts with the DailyFX News App Third-quarter UK GDP figures headline the economic calendar in European trading hours. A slowdown is expected, with output rising 0.7 percent in the three months through Septembe ...
Source: Forex News   Full article at: Forex News
 

 
Update
8

6 days ago

BoE Deputy Governor: Stop Blaming Central Bankers For Your Problems

Oct 24 2014 7:55am CDT | Source: Business Insider

Bank of England deputy governor for monetary policy Ben Broadbent gave a speech this Thursday at the Society of Business Economists Annual Conference. His message was simple: stop blaming central banks for high asset prices. There's been a long-term decline in the risk-free rate of interest, he said. But you know what? It's a secular decline, and monetary policy isn't the only thing affecting markets. "Autonomous changes in monetary policy certainly ...
Source: Business Insider   Full article at: Business Insider
 

 
Update
7

1 week ago

Pound at Risk on Status-Quo BOE Minutes, US Dollar May Rise on CPI

Oct 23 2014 1:09am CDT | Source: Forex News

Talking Points: British Pound May Drop on Status-Quo Bank of England Meeting Minutes US Dollar to Rise if September’s CPI Tops Forecasts, Boosting Fed Outlook See Economic Releases Directly on Your Charts with the DailyFX News App Minutes from October’s Bank of England policy meeting headline the economic calendar in European hours. The voting pattern on the rate-setting MPC committee will be in focus, with traders keen to see if the hawks were able to inch closer to securing enough v ...
Source: Forex News   Full article at: Forex News
 

 
Update
5

1 week ago

Clarity From The Bank of England: Rates To Remain at 0.5%

Oct 22 2014 5:05am CDT | Source: Forbes Real Time

Bank of England policy makers take a more dovish tone as the world economy slow ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
4

1 week ago

Bank of England keeps interest rates steady amid pessimism about global economy

Oct 22 2014 4:44am CDT | Source: Canadian Business Online

LONDON – Bank of England policymakers remain split on raising interest rates, voting 7-2 at their last meeting to maintain a record low rate of 0.5 per cent amid increasing pessimism about the global economy. Minutes from the meeting held Oct. 7-8, released Wednesday, show that policymakers opted to hold the line despite calls from some quarters to begin raising rates gradually. Martin Weale and Ian McCafferty remained the only two voting for a hike and ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
3

1 week ago

BOE Officials Gloomier on Economy

Oct 22 2014 4:17am CDT | Source: WSJ.com: What's News US

Bank of England officials grew gloomier about the U.K.’s economic prospects in October, citing increasing headwinds from overseas and a slowdown at home, according to minutes of this month’s policy ...
Source: WSJ.com: What's News US  Full article at: WSJ.com: What's News US
 

 
Update
2

1 week ago

Bank of England keeps rates steady

Oct 22 2014 4:02am CDT | Source: The Standard: China's Business Newspaper

Bank of England policymakers remain split on raising interest rates, voting 7-2 at their last meeting to maintain a record low rate of 0.5 percent ami... ...
Source: The Standard: China's Business Newspaper   Full article at: The Standard: China's Business Newspaper
 

 
Update
1

1 week ago

London Markets: FTSE 100 hugs the flat line ahead of BOE minutes

Oct 22 2014 2:43am CDT | Source: MarketWatch

The U.K. benchmark is little changed, as investors wait for minutes from the Bank of England’ and with shares of British American Tobacco adding pressure after a lacklus ...
Source: MarketWatch   Full article at: MarketWatch
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Australia to lift sanctions on Fiji
Sydney, Oct 31 (IANS) Australia's Foreign Minister Julie Bishop announced Friday that her government was lifting sanctions on Fiji that have been in place since the 2006 military coup in the country.
 
 
Kenya steps up Ebola prevention efforts
Nairobi, Oct 31 (IANS) Kenya's cabinet Thursday announced elaborate measures as part of a contingency plan for Ebola preparedness and response to ensure the east Africa nation remains free from Ebola.
 
 
Syria ensures medicine supplies for chronic diseases
Damascus, Oct 31 (IANS) Despite the nearly four-year crisis and the suffocating economic sanctions against Syria, the health sector in war-torn country is still able to secure medicines for the chronic diseases free of charge, health officials said Thursday.
 
 
China's aid to fight Ebola arrives in Ghana
Accra, Oct 30 (IANS) Chinese medical supplies and equipment to aid Ghana's fight against the outbreak of the deadly Ebola Viral Disease arrived at the Kotoka International Airport in Accra late Wednesday night.
 
 
 

Latest from the Network

Kaka to debut for Orlando City in a friendly
Rio de Janeiro, Oct 31 (IANS) Kaka is set to make his debut for Orlando City in a January friendly against Brazilian giants Flamengo, media reports said. The match has been scheduled for Jan 28 at the Arena Amazonia...
Read more on Sport Balla
 
Israel recalls ambassador after Sweden recognises Palestinian state
Jerusalem, Oct 31 (IANS) Israel recalled its ambassador to Sweden Thursday to protest the Scandinavian country's decision to recognise a Palestinian state, an Israeli foreign ministry source said. Yitzhak Bachman,...
Read more on Politics Balla
 
Cincinnati Reds Exercise $10.5M Club Option for Johnny Cueto
The Cincinnati Reds exercised a club option for ace pitcher Johnny Cueto for the 2015 MLB season on Oct. 30.According to MLB.com's Mark Sheldon, the club option is worth $10.5 million. The Reds also declined to exercise...
Read more on Sport Balla
 
'Big Hero 6' co-director loved Marvel comics as kid
Los Angeles, Oct 31 (IANS) Don Hall, the co-director of "Big Hero 6" -- a big screen adventure about the bond between a boy and his robot, says during his childhood, he was a fan of the eponymous Marvel comics, which...
Read more on Celebrity Balla
 
Australia to lift sanctions on Fiji
Sydney, Oct 31 (IANS) Australia's Foreign Minister Julie Bishop announced Friday that her government was lifting sanctions on Fiji that have been in place since the 2006 military coup in the country. "As I depart for...
Read more on Business Balla
 
Taylor Swift: I want to write poetry
Taylor Swift would love to write poetry. The 24-year-old - who has penned hit tracks like 'Red' and 'I Knew You Were Trouble' - has admitted that she'd like to try writing for other mediums. She told Associated Press...
Read more on Celebrity Balla
 
Jennifer Garner loves Ben Affleck's 'sexy' Batman voice
Jennifer Garner loves Ben Affleck's Batman voice. The 42-year-old actor plays the superhero in 'Batman v Superman: Dawn of Justice' and his wife of nine years admits she thinks the voice he uses is ''sexy''. She told...
Read more on Celebrity Balla
 
Reese Witherspoon hates 'likeable' tag
Reese Witherspoon hates being ''likeable''. The 'Water For Elephants' star dislikes when people brand her in that way because it affects which acting roles she is given. She told the New York Times newspaper: ''I've sat...
Read more on Celebrity Balla
 
Kate Moss flashes derriere in risque dress
Los Angeles, Oct 31 (IANS) A fashion faux pas can happen with one of the world's most iconic models too. Kate Moss is a case in point who ended up flashing much of her derriere in a see-through attire. The 40-year-old...
Read more on Celebrity Balla
 
Kenya steps up Ebola prevention efforts
Nairobi, Oct 31 (IANS) Kenya's cabinet Thursday announced elaborate measures as part of a contingency plan for Ebola preparedness and response to ensure the east Africa nation remains free from Ebola. The cabinet...
Read more on Business Balla