Japan has issued new banknotes for the first time in two decades. They contain three-dimensional holograms, which should help in the fight against counterfeiting. This was reported by Reuters.
The country's National Bureau of Printing assures that this technology was used for paper money for the first time in the world.
During the ceremony, Japanese Prime Minister Fumio Kishida said that this step was taken at a time when the economy is entering a growth phase for the first time in three decades.
The new 10,000 yen ($62) bill features Eiichi Shibusawa (1840-1931), the founder of the first bank and stock exchange, who is often called the "father of Japanese capitalism."
The 5,000 yen note depicts the educator Umeko Tsuda (1864-1929), who founded one of the first women's universities in Japan, and the 1,000 yen note depicts the medical scientist Shibasaburo Kitasato (1853-1931).
The country's authorities plan to print about 7.5 billion newly designed banknotes by the end of the current fiscal year.
Bank of Japan Governor Kazuo Ueda believes that cash is a reliable means of payment that can be used by anyone, anywhere, anytime, and it will continue to play an important role despite the alternatives.
The video of the presentation of the new banknotes was shown by the Bank of Japan on the X platform.
Remarks on the Introduction of a New Series of Bank of Japan Noteshttps://t.co/esptcpx8wy pic.twitter.com/OyUUq5S9ID
— Bank of Japan (@Bank_of_Japan_e) July 3, 2024
For more information on how the new banknotes look like, please click here.
By the way, counterfeiting is hardly a serious problem in Japan. In 2023, police found 681 counterfeit banknotes, a sharp drop from the record high of 25,858 in 2004.