2024-07-03 16:54:43
In an attempt to prevent counterfeiting, Japan began circulating its first new banknotes in 20 years on Wednesday, bearing 3D images of the founders of financial and educational institutions.
According to Reuters, “The new 10,000 yen ($62) note depicts the founder of Japan’s first bank and stock exchange, Shibusawa Eiichi (1840-1931), who is often called the “father of Japanese capitalism.”
The new 5,000 yen ($30.93) note also features a portrait of teacher Tsuda Umeko (1864-1929), who founded one of Japan’s first women’s universities, while the 1,000 yen ($6.19) note features a portrait of medical scientist Kitasato Shibasaburo (1853-1931), the agency said.
Reuters reported that “the new banknotes use printed patterns to create three-dimensional images, depending on the viewing angle, using a technology that the National Printing Agency in Japan said is the first of its kind in the world for paper money.”
The agency indicated that “Japan’s monetary authorities plan to print about 7.5 billion new banknotes by the end of the current fiscal year, and these banknotes will be added to the 18.5 billion banknotes worth 125 trillion yen already in circulation as of December 2023.”
“Cash is a safe means of payment that anyone can use, anywhere, anytime, and will continue to play an important role” despite alternatives, Bank of Japan Governor Kazuo Ueda said.
“The faces of those who represent Japanese capitalism, women’s empowerment and technological innovation will appear on the new banknotes,” Japanese Prime Minister Fumio Kishida said at a ceremony.
He pointed out that “this step comes at a time when the economy is moving into a growth-driven phase for the first time in 3 decades.”
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2024-07-03 16:54:43