After a break of several months, ‘Elsewhere on the web’ is back.
This month new banknotes dominate the news.
- In Japan, half the population have received new notes one month after their issuance.
- In Morocco, new notes commemorate the 25th Anniversary of King Mohammed VI in power.
- In the UK, an auction of the first banknotes featuring King Charles raises nearly £1m for charity
In India, old notes dominate the news. The Reserve Bank has said that 97.96% of the rupee 2,000 denomination have been returned since its demonetization on 19 May.
In Switzerland, Swissinfo.ch look at the lifecycle of banknotes and what happens when they are withdrawn from circulation.
Poverty alleviation is another key topic.
- In Thailand, the government stimulus programme aimed at jumpstarting the economy, which was initially designed as being digital only, will now include cash handouts.
- In the US, the Washington Post revives the debate on unconditional cash handouts and universal basic income to conclude that cash handouts are not sufficient to solve the problems of the poor. They are necessary though.
In the UK, the increasing use of the Post Office to handle cash comes as the rate of closure of bank branches and ATMs shows no sign of slowing.
In the US, NCR launches a Bitcoin Cashout feature whereby enrolled customers can sell bitcoin, picking up their cash at ATMs at thousands of leading merchant locations.
Moscow Times, which is now blocked in Russia, reports that Russia imported more than $29 million in U.S. dollar and euro banknotes from Rwanda this year, despite Western sanctions on cash imports, citing confidential customs data.