Bank Of Thailand Launching New Banknote Series Next Week

[webfact]

Bank of Thailand launching new banknote series next week

BANGKOK, Jan 12 -- The Bank of Thailand (BoT) will issue a new series of banknotes, its 16th series, next week after the current series has circulated in the market for more than 14 years, according to BoT Governor Prasarn Trairatvorakul.

Mr Prasarn said that the new notes comprise five denominations -- Bt20, Bt50, Bt100, Bt500 and Bt1,000. Their size and colour remain unchanged from the present notes.

First launches will be the Bt50 banknote on January 18, the date commemorating the glorious victory of King Naresuan the Great in traditional royal combat on elephant back in 1593, he said.

The BoT governor said that about 190 million Bt50 banknotes currently circulate in the system, and that the new issue would cost Bt5 higher then the currently used notes.

The central bank has applied newest technology as a security feature for the Bt50 note to prevent counterfeiting which included the watermark which HM the King's portrait will be shown on the right side and a watermark of Thai numeral 50 is especially transparent.

The current Bt50 banknote and those previously issued would also be legal tender by law, he said. (MCOT online news)

-- TNA 2012-01-12

[Moruya]

This is a cunning way of printing money!

I'll give them a free hand destroying the old ones.

[rheinwiese]

I would rather like to see them adding 2000 and 5000 Baht banknotes. About time I think.

[webfact]

BoT to launch new generation of banknotes next week

BANGKOK, 12 January 2012 (NNT) – The Bank of Thailand (BoT) announced that it will launch a new generation of banknotes into circulation, starting next week, in an attempt to prevent counterfeit money.

BoT Governor Prasarn Trairatvorakul stated that the central bank has developed a new series of banknotes to put into circulation instead of those being used currently. The first bills to be introduced into the system are those of the THB50 denomination. The new THB50 banknotes will be released on 18 January, the day commemorating King Naresuan's victorious elephant duel against the Burmese crown prince in 1592. However, the current THB50 bills will continue to circulate and remain legal tender side by side with the new issue.

With the purpose of eradicating counterfeit money, the BoT has applied the latest technology to issue this new series of banknotes. Some of the security features on the new notes include a watermark of HM the King’s portrait and a translucent watermark of the number 50 in Thai numerals. However, the notes will still be of the same size and colour as their predecessors.

This new generation of banknotes is the 16th in its series and will replace the use of the current bills, which have been in circulation for over 14 years. The new banknotes will still hold the current denominations, which include THB20, THB50, THB100, THB500 and THB1,000. It was revealed that the cost of issuing the new banknotes is 5% higher than that of the current ones.

-- NNT 2012-01-12

[ginjag]

I would rather like to see them adding 2000 and 5000 Baht banknotes. About time I think.

Too late, I suggested a 2000 baht note but the treasury rejected the idea -Ha

The most Idiotic thing they have done is not use different bold coloured notes, The boring BOT has got some chairs loose in the room, this was an opportunity to help the confusing colours of the 100=500=1000 notes, some people have said they dont have a problem, get real a vast amount of Thais do have a problem, and a collossal amount of people that cannot afford glasses, anyone seeing this and wants to take issue-up to them, but bold entirely different colours would have been brilliant

[Derifo]

I would rather like to see them adding 2000 and 5000 Baht banknotes. About time I think.

I don't think so.

[ratcatcher]

Outside of farang and the business-hi-so circles, the most commonly used note must surely be the B20. Many rural Thais don;'t see a B1000 too often I'd wager.

[FalangBaa]

Outside of farang and the business-hi-so circles, the most commonly used note must surely be the B20. Many rural Thais don;'t see a B1000 too often I'd wager.

Only if their daughter has a nice generous foreign "sponsor"!

[jalansanitwong]

The BOT has announced new bank notes 20 50 100 500 1000. Same size ,colours and obviously the pics wont change.....whats new ?

Edited January 12, 2012 by jalansanitwong

[paulchiangmai]

I would rather like to see them adding 2000 and 5000 Baht banknotes. About time I think.

Half the Ma and Pa shops can,t change a 1,000 Baht note never mind a two or five thousand note.

[creck]

This is a cunning way of printing money!

I'll give them a free hand destroying the old ones.

I don't know the current money supply in Thailand but I think the bank notes in circulation are a small part. Even if there is 600 billion in 1000 baht notes - and they double that - it is hardly significant. It is an interesting point though, as the timing seems rather convenient. Anybody have some facts to enable a better guess?

[renaissanc]

Since this is Thailand, I also suspect the Bank of using this opportunity to print more money to pay for the debts. Clever opportunists!

[Bakseedaa]

I would rather like to see them adding 2000 and 5000 Baht banknotes. About time I think.

Too late, I suggested a 2000 baht note but the treasury rejected the idea -Ha

The most Idiotic thing they have done is not use different bold coloured notes, The boring BOT has got some chairs loose in the room, this was an opportunity to help the confusing colours of the 100=500=1000 notes, some people have said they dont have a problem, get real a vast amount of Thais do have a problem, and a collossal amount of people that cannot afford glasses, anyone seeing this and wants to take issue-up to them, but bold entirely different colours would have been brilliant

Just rub your fingers along the bottom line and you can feel the brail dots to check which note you have in your hand.. Easy... there for the colour blind and blind folks...

[jpinx]

Superb bit of double shuffling -- they can print a new series, but they will be very slow in retrieving the old ones -- thereby paying off the government debt. USA could learn a trick or two here given their ongoing total none-sense about their vastly more prolific government's spending. Maybe the EU will issue a "new series" of banknotes too,,,,

Edited January 13, 2012 by jpinx

[TerryLH]

"The BOT has announced new bank notes 20 50 100 500 1000. Same size ,colours and obviously the pics wont change.....whats new ?"

You must have missed that part in the article.

From the article:

"Some of the security features on the new notes include..."

[anterian]

I wonder what age the King will be on these notes. I remember when I first came to Thailand and saw all the pictures everywhere of the King, there were pictures of him as a young man and also as an old man. In my naivety I assumed the photos of the young man were photos of the Prince. I wonder how many first time tourists make the same mistake.

[sprq]

Brilliant. The difficulty of distinguishing in low light between 100 and 500 baht notes, and 20 baht and 50 baht notes, will continue. So silly, in each case, that their colours are so close and their sizes are identical.

And once more, doubtless, the very useful 50 baht notes will be hard to get hold of.

[arrowsdawdle]

Outside of farang and the business-hi-so circles, the most commonly used note must surely be the B20. Many rural Thais don;'t see a B1000 too often I'd wager.

Only if their daughter has a nice generous foreign "sponsor"!

Or a respect table job in the city.

[Willeyeam]

I would rather like to see them adding 2000 and 5000 Baht banknotes. About time I think.

I don't think so.

Yeah indeed, they struggle in most places to find change for 1000!!!

[sexy man]

they should look at australian banknotes every denomination is a different colour

[JohnBetong]

The central bank has applied newest technology as a security feature for the Bt50 note to prevent counterfeiting which included the watermark which HM the King's portrait will be shown on the right side and a watermark of Thai numeral 50 is especially transparent.

Does that mean that the higher denomination notes do not have the "newest technology" and counterfeits are easier?

[JulesMad]

I would rather like to see them adding 2000 and 5000 Baht banknotes. About time I think.

+1

[matador007]

they should look at australian banknotes every denomination is a different colour

Canadian too Ours are so colorful.

http://en.wikipedia.org/wiki/Banknotes_of_the_Canadian_dollar

The $100 (Canadian) has started going "plastic" with $50 to follow soon.

http://en.wikipedia.org/wiki/Polymer_banknote

Looks like Australia and many others have also gone that route to deter counterfeiting.

Seems the Thai's know about it, after skimming through that, says Thai's did a 50 commemorative note in 1997.

So if they truly want to make it hard to copy, why not go 'plastic' ?

[khaowong1]

Outside of farang and the business-hi-so circles, the most commonly used note must surely be the B20. Many rural Thais don;'t see a B1000 too often I'd wager.

Only if their daughter has a nice generous foreign "sponsor"!

Ha ha ha. Very good.

[loong]

The BoT governor said that about 190 million Bt50 banknotes currently circulate in the system

That surprises me. That works out at 3 x 50 Bt notes per person, yet i hardly ever see one. I doubt that i get more than 2 per month in my change, so where are they all?

[retell]

Brilliant. The difficulty of distinguishing in low light between 100 and 500 baht notes, and 20 baht and 50 baht notes, will continue. So silly, in each case, that their colours are so close and their sizes are identical.

And once more, doubtless, the very useful 50 baht notes will be hard to get hold of.

a few times allready got payment from foreigner that includes a few 20 notes after counting the register found out they were 20 euro notes but the poeiple give them checked out allready

[PoorSucker]

Just rub your fingers along the bottom line and you can feel the brail dots to check which note you have in your hand.. Easy... there for the colour blind and blind folks...

How do blind people tell where the bottom line is?

[dean999]

So, there changing the notes to make it harder for counterfeiting. Sounds like a good idea.......... But wait, there keeping the old notes in circulation. So just carry on counterfeiting the old notes. Only in Thailand

Edit - Change font

Edited January 13, 2012 by dean999

[xthAi76s]

Why would money need to be colorful? USDs are perfect. Same size and shape with different BIG NUMBERS on them to distinguish them.

What they could fix here in Thailand are the 25 and 50 satangs issue with people not giving me my proper change sometimes because there are prices here that cannot be paid precisely with the currency ...

[fire and ice]

they should look at australian banknotes every denomination is a different colour

Canadian too Ours are so colorful.

http://en.wikipedia....Canadian_dollar

The $100 (Canadian) has started going "plastic" with $50 to follow soon.

http://en.wikipedia....olymer_banknote

Looks like Australia and many others have also gone that route to deter counterfeiting.

Seems the Thai's know about it, after skimming through that, says Thai's did a 50 commemorative note in 1997.

So if they truly want to make it hard to copy, why not go 'plastic' ?

Polymer (plastic) banknotes are made for many countries around the world by a company in Melbourne Australia. The do cost a lot (per note), plus many countries dont want their public to have their pride hurt by knowing that their money is actually printed overseas, so most only get 1 or 2 plastic notes made not their full set. The Thai 50 baht plastic note was made in Melbourne for example.

Furthermore the initial years of polymer banknotes in Australia had many teething problems before they finally go tit right. But a lot of negative publicity was caused by the initial years before they got it right.

The USA would already have (secure!!) Australian-made plastic notes, except some stupid bureaucrat in the USA made some dumb rule that banknote has to pass some absurd test when rolled up and squashed - as if that's more important than it being harder to forge or waterproof as Aussie banknotes are.

Notably the firm in Melbourne has recently been accused of some dodgy dealings in paying bribes to secure o/s contracts (no, not accused of printing extra notes!!).