The Design and Printing of Bank Notes: Considerations When Introducing a New Currency

IMF Working Papers, March 1, 1995

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Many newly independent or systemically transforming countries feel a pressing need to--or must--introduce their own national currency.
Other countries simply wish to enhance the attractiveness, usefulness, durability, and/or security of their currencies.
It is difficult to find consistent published information on the various aspects of designing, producing, and printing a new currency.
This paper discusses the main issues in designing, producing, and printing a new currency to help those charged with these tasks proceed in an orderly and informed manner.
Attention is given to examining the options that may be available when this exercise must be undertaken on an emergency basis, with little or no warning.

Clarify objectives: attractiveness, usefulness, durability, and security of the currency.
Organize the process to proceed in an orderly and informed manner.
Understand the roles and capabilities of the bank note printing industry and bank note producers.
Consider operational aspects of bank note printing operations and logistics for note circulation.
Account for interaction with monetary policy, inflation, and public expenditure considerations.

Examine alternatives available when introduction must be undertaken on an emergency basis, with little or no warning.
Assess short-term measures versus longer-term production and design strategies.

Subject: Banking, Currencies, Expenditure, Financial institutions, Inflation, Labor, Money, Prices, Public expenditure review, Securities
Keywords: bank note issue, bank note printing industry, bank note printing operation, bank note producer, bank notes, Bank of Canada note circulation, Currencies, Inflation, printing work, Public expenditure review, Securities, WP