Thailand To Issue New 1,000 Baht Note

[george]

BOT to issue new 1,000 baht note

BANGKOK: -- The Bank of Thailand (BOT) plans to issue a new 1,000 baht banknote later this year.

The new 1,000 baht note, embeded with hologram, will be issued in November, aimed mainly at addressing the problem of note forgeries, according to the Managing Director of BOT's Note Printing Works, Nopporn Pramojaney.

"Most fake notes have been found in border provinces. Most of them were 500 and 100 notes in the past. The issuance of the banknotes with hologram has helped addressed the problem", he told TNA on Tuesday.

"Forgers have recently produced and distributed more fake 1,000 baht notes. The central bank will, therefore, issue the new 1,000 baht note with hologram to solve the same problem", he added.

Hologram is a unique photographic printing that provides a three-dimensional effect on a flat surface.

Holograms cannot be easily copied and are used for security and aesthetic purposes on banknotes or cards.

Banknote fogeries in Thailand are in a proportion of only 0.1:1,000,000 notes, far less than the 60-70:1,000,000 notes in the United States and Europe, according to Mr. Nopporn.

--TNA 2005-07-06

[patricktan]

Will they face of the old note? Do you have any news....please.

[george]

New Bt1,000 note hard to copy – BOT

BANGKOK: -- The Bank of Thailand is to issue a new Bt1,000 banknote with a silver foil stripe in November. The note will be difficult to copy and is being introduced to combat forgery.

The managing director of the BOT’s note printing works, Nopporn Pramojaney, said yesterday that of all Thailand’s banknotes, the Bt1,000 note was most often forged. But this wasn’t always the case. There was a time when Bt100 and Bt500 banknotes were more popular among counterfeiters.

However, after the the central bank issued Bt100 and Bt500 banknotes with the added security of a silver foil stripe, forgery of those notes subsided.

“There have been some attempts to imitate the new Bt500 banknote,” Nopporn said, “but they don’t look real”.

Currently, there was reckoned to be only one fake Bt500 banknote for every 10 million banknotes in circulation. By comparison, in the US and euro zone, there were 60-70 fake banknotes for every 1 million notes in circulation.

Nopporn said that normally, if fake banknotes represented more than 5 per 1 million, the central bank would be obliged to issue new banknotes to replace the old ones.

The new Bt1,000 banknote will be similar to the current Bt100 and Bt500 banknotes, but its colour will remain the same. There will be a silver foil stripe stamped with His Majesty the King’s royal emblem and the number “1,000” in both Thai and Arabic numerals. The will be small “1,000” in Arabic numerals forming a background on the silver stripe. These will produce a reflecting effect when exposed to light.

The paper of the new banknote will also include a watermark portrait of His Majesty the King in a transparent area. The note will have a metal fibre embedded in the paper imprinted with “1000 BAHT”, as well as Bt1,000 in Thai.

Nopporn said the new banknote would be printed using the latest technology, making it very difficult to duplicate.

The cost of producing it would be about Bt2 per note, double the cost of the old banknote.

At the end of December last year, 517.5 million Bt1,000 banknotes, 690.4 million Bt100 banknotes and 867.5 million Bt20 banknotes were in circulation.

Although the BOT is promoting electronic payment systems, Thai consumers are still fond of using cash, partly because it cannot be traced.

“Other payment systems have hidden costs,” Nopporn said. “For example, payment via credit cards costs more than payment by cash.”

Thai people use cash for as much as 70 per cent of the value of total payments, whereas cash to GDP is accounted at around 9 per cent.

--The Nation 2005-07-06

[gburns57au]

The 50 baht hologram note was made in Oz....all our notes have them...wonder if these ones will be made there too....

[Pattaya_Fox]

The 50 baht hologram note was made in Oz....all our notes have them...wonder if these ones will be made there too....

<{POST_SNAPBACK}>

Fair dinkum mate...don`t suppose the bushies would`av had much use for em.

Even here a 50 will only buy one bottle of the amber nectar

[cmsally]

How about a colour that doesn't resemble the 20Bt note so much.

Have met a few people who have got them mixed up.

It is difficult to tell when you have a bunch of notes in your pocket.

[Kan Win]

George, thank you for the heads up on this one.

Local Kan people told me to be extra careful with the 1000 notes last week as they found some fake ones there.

Take care and if someone asks you to change a 1000 note say NO.

Yours truly,

Kan Win

[george]

Update:

Central bank moves to combat forgers

BANGKOK: -- The Bank of Thailand (BoT) has announced plans to issue a new-generation 1,000 baht note in a bid to thwart widespread forgery.

The central bank said that between January and June this year, it had found 2,733 counterfeit notes in circulation. Most were 100 baht and 1,000 baht denominations.

While fewer fake 500 baht notes had appeared, the BoT said the forgery of 1,000 baht bills had become as common as the 100 baht note.

The counterfeit money had been found in the capital, Bangkok, and a number of key regional cities, including Chiangmai, Khon Kaen and Songkhla.

The central bank said the issue of the new 1,000 baht bill was scheduled for November. It said while the design would be identical to the one currently in use, extra security features will be included to protect against forgery.

--TNA 2005-07-13

[wombat]

Will they face of the old note? Do you have any news....please.

<{POST_SNAPBACK}>

got a few buried have we?

[expatinasia]

Years ago both MasterCard and Visa reveled a new hologram that would make it impossible to make a fake credit card. Within a few months, the counterfeiters had perfected halogram printing. The newest Chinese currency has magnetic threads, metallic film, halograms, colors that are not found in nature, micro-printing, and two-sded registration marks. Rather quickly, the counterfeiters were able to print incredible copies of virtually all notes, including the 10RMB bill - worth about $1.25US.

[Heng]

Well, it's not like the bad guys are going to say... "to heck with it! it's just not worth it."