Tuesday , December 12 2017

SNB debuts new 10-Franc note

Bloomberg

Cash-loving Swiss will soon have a 50-50 chance of paying with a crisp, new banknote. With the introduction of its new 10-franc bill, the Swiss National Bank (SNB) will be half way through its new series. Introduced in April 2016, the notes feature motifs depicting typically Swiss characteristics and have cutting-edge security
features. The newest is yellow and based on a theme of time and the country’s
reputation for impeccable organization.
“On the one hand you’ve got the depiction of a watch movement — how else could it be — one of the internationally best-known Swiss quality products,” SNB Vice President Fritz Zurbruegg said in Bern on Wednesday. “On the other hand you see a train tunnel.”
The security strip on the new note lists Switzerland’s longest railway tunnels. A map of the country and its railway network is also visible. Other security features include a transparent Swiss cross that when held up to the light morphs into a flag and a globe that becomes visible only under ultraviolet light.
Issuance will begin next Wednesday.
Still awaiting their debut are the 100, 200 and 1,000 franc notes.
Switzerland’s decision to continue to issue high-denomination bills has raised eyebrows among some such as former US Treasury Secretary Lawrence Summers, who has called on the SNB to withdraw them in a bid to thwart crime.

About Admin

Check Also

European Central Bank with Euro Sign, Frankfurt

ECB topping up QE once more with short taper in late 2018

Bloomberg The European Central Bank will spend 2018 guiding its bond-buying program to a gentle ...

Leave a Reply

Your email address will not be published. Required fields are marked *