Archive for December, 2009

Iran deems “Green” banknotes invalid

In response to the increasing circulation of banknotes scribbled with anti-government slogans (read Iranians shift protest movement to banknotes), the Central Bank of Iran said this week that it would no longer accept graffitied banknotes as valid currency. Since the beginning of the Iranian Green Movement (the ink on the banknotes is often green, and […]

Gulf States Will Launch Their Own Currency, The ‘Gulfo’

Four Arab states of the Persian Gulf have agreed to launch a new, singular currency in an effort to create an Arab monetary union. Saudi Arabia, Kuwait, Bahrain and Qatar will begin the first phase of the new currency next year, creating a Gulf Monetary Council that will become a full-fledged central bank. The United […]

Central Bank of the Bahamas Introduces New $100 Banknote

This week the Central Bank of the Bahamas (CBB) introduced a new purple, blue, green & mauve $100 banknote into circulation bearing a picture of Queen Elizabeth II on the front and a blue marlin on the back. But colour and images aren’t the only changes that have been made. The new $100 banknote is […]

India Attempts Crack Down on ‘Financial Terror’

India will put together a ‘financial terror dossier’ this week in an attempt to garner international support in pressuring Pakistan to immobilize a booming counterfeit currency ring that exports bogus Indian banknotes into the country. Since the attacks in Mumbai last November, India has been aggressively building a number of cases against the neighboring Pakistan, […]

Turkey Enters Second Phase of Currency Reform

On January 1, 2010, Turkey will begin the second phase of its planned currency reform that will see the country stop production of their current banknotes (the New Turkish Lira) and replace them with a new currency series, simply called the Turkish Lira. This second phase comes five years after the country first redenominated its […]

Iranian’s shift protest movement to banknotes

Protesters in Iran have launched what they are calling a “second level” of protesting, shifting from overt public displays such as street demonstrations and rallies, to more covert tactics like writing protest notes and slogans on rial banknotes – the Iranian currency. With staunch government crackdowns on protest movements throughout the country, pro-democracy protesters are […]

Japanese company unveils multiple currency ATM

It’s been over 40 years since the world was first introduced to the convenience of an automatic teller machine (ATM). Invented by inventor John Shepherd-Barron, the ATM first made its appearance in London in 1967. Though the machine used PIN (personal identification number) codes it was dependent on checks impregnated with the (slightly) radioactive isotope […]

North Korea Changes Currency and Rates 100 to 1

The North Korean government announced this week that it would be redenominate their current currency and replace old banknotes with new ones of a drastically lesser value. Though the currency will keep the same name (the won) one hundred old won is now only worth one won – 1/100th of their previous worth. The government […]

“Top 10 Things You Didn’t Know About Money”

With the US Mint launching the release of a new $1.00 coin in November, Time Magazine drafted this list of top-ten tidbits about money that may surprise you: #1 – The Largest Banknote: Measuring in at roughly the size of a sheet of legal paper, the world’s largest single banknote is the 100,000-peso note created […]

RCMP busts fake-passport ring in Canada

In one of the largest coordinated busts in recent Canadian history, more than 400 police officers moved through Ontario and Quebec to arrest suspects in a counterfeit passport ring. Twenty-nine people were arrested in the inter-provincial raids as a joint police force of officers from the RCMP, the Sûreté du Québec and Montreal police targeted […]