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The destruction of unfit or recalled banknotes is a responsibility of the central bank. In general, the destruction is performed by a shredder. The machine cross-cuts the banknotes to particles (shreds) with an area of less than 25 mm 2. This work process is executed under very high security provisions to preclude manipulation of authenticity ...
Damaging or destroying naira notes or coins intentionally. The Central Bank of Nigeria (CBN) considers abuse of the naira a serious offense, as it can lead to a shortage of currency in circulation, increased costs for printing and replacing damaged notes, and a loss of confidence in the currency.
The CBCDG was established by the G10 central banks in 2000, in order to counter the threat of computer-based banknote counterfeiting. [2]In 2004, CBCDG announced the development of a "Counterfeit Deterrence System" (CDS) incorporating a technical means for the detection of banknotes. [3]
The production of paper money by the State Bank is under the exclusive authority of the Central Bank, and is issued by the Brazilian Union. [28] By that reasoning, the paper on which the money is printed is the property of the State, and its intrinsic value belongs to the person.
The Central Bank is the only institution in the country which is authorised to issue currency notes and coins. The Central Bank is responsible for: the design of the currency; the maintenance of its integrity and providing an adequate supply of currency to satisfy the needs of the public. for open market operations
Banknotes are passed through a banknote sorting machine to assess their authenticity and fitness for circulation, or may be classified unfit for circulation if they are worn, dirty, soiled, damaged, mutilated or torn. Unfit notes are returned to the central bank for secure online destruction by high-speed banknote sorting machines using a cross ...
On 15 February 2021, the central bank introduced a polymer version of the $1 and a redesigned polymer $50 note. [28] The paper based notes were discontinued on January 1, 2022. [29] All banknotes have the coat of arms of Trinidad and Tobago on the obverse and an image of the central bank on the reverse. Banknotes in circulation are $1 (red) $5 ...
In 2003, the European Central Bank made a decision that defined the process and cost of exchanging neutralized Euro Banknotes among all National Central Banks in Europe. [1] In 2005, Bank of France implemented a special procedure regarding the treatment of stained banknotes deposited by private persons.