22 Dec ’20 – Page Bank of Thailand – Bank of Thailand Facts about the commemorative banknotes of the Royal Coronation Ceremony of 2019
According to the misunderstanding regarding commemorative banknotes during the 2019 Royal Coronation Ceremony, the Bank of Thailand (BOT) would like to clarify as follows:
1. Banknotes without EURion (Uryan) are not meant to be easily counterfeited.
EURion is one of the forms of protection against copying from copiers or scans, but it is not the necessary or most important form of protection against counterfeiting. Many countries in the Asia-Pacific region and Europe do not adopt EURion, but rather focus on providing an anti-counterfeiting feature to make it easy for people to spot, and it is difficult for criminals to make it look like the real thing.
As for most commemorative banknotes produced in the past, the EURion was not used. But it has a number of anti-counterfeiting characteristics and continues to adopt advanced standard anti-counterfeiting technology like all circulated and commemorative banknotes of the past.
However, if the banknotes are forged by scanning and printing them Paper and ink used And that watermark will never make it look like a real banknote People can immediately distinguish themselves as counterfeit banknotes by “touching, lifting, turning, tilting”, which can be easily checked by themselves.
???? Feel the relief of the print, tell the type, price at the corner of the banknote and the word of the Thai government.
???? Lift the watermark on the paper, the 100 baht banknote will see the royal statue And the 1000 baht banknotes will see the logo watermark of the King Rama V.
???? Tilt to see magenta band The front of the 100 baht banknote can be moved up and down and switched to green. Also inside the Pikul flower pattern of the 1000 baht banknote has a circular shape that moves around and changes from golden to green.
2. Banknotes issued by the BOT, even without EURion, meet high anti-counterfeiting standards and can be exchanged for foreign currency.
All banknotes issued by the BOT can be used for legal repayment. Therefore, commemorative banknotes can be used for various transactions in the country like normal banknotes. In the beginning, merchants and money changers may not be familiar with the new banknotes. But later it was announced that the commemorative banknote was accepted.
For exchanging baht banknotes abroad Thai baht is not an international currency. It is not already widely used in other countries. Banks or foreign exchange service providers may or may not accept any banknotes, regardless of the presence or absence of EURion, but it depends on whether there is enough demand for both buying and selling from customers to complete the transaction. Exchange money
3. New commemorative banknotes with reserve funds 100% fully backed
All types of Thai banknotes issuance, price Both normal circulation and commemorative notes comply with currency laws. Have 100% of the currency reserve backed up
Currently, the circulation banknotes include all commemorative banknotes. It is worth about 2 trillion baht while commemorative banknotes in this time total value of 1.2 billion baht or about 0.6% of the total volume of banknotes.
The public can check the amount of banknotes issued. Including currency reserve Can be obtained from the weekly financial status report of the BOT
4.The issuance of commemorative banknotes does not count as the BOT’s QE (Quantitative Easing) practice.
The issuance of circulated banknotes, including commemorative banknotes, is the BOT’s duty to manage the banknotes to meet the needs of the people. For payment of goods and services in the economy (Including saving or keeping as a souvenir) The amount of banknotes circulating in the system is mainly determined by the needs of people and businesses such as the New Year and Songkran period. As the people want to spend more cash, the BOT has to issue more banknotes. And when the festival passes People’s demand for cash is reduced, the BOT withdraws cash from the system.
In conclusion, the BOT cannot increase the amount of banknotes issued. If people and businesses have no need to withdraw cash from commercial banks.
As for doing QE abroad Injecting the liquidity of the central bank Enter the economy through the accounts of financial institutions. It is not involved in the issuance of banknotes in any way.
5. The number of commemorative banknotes issued for collection is very small compared to the normal circulation banknotes, so they can be placed in ATMs for easy access to the public.
The past issue of commemorative banknotes is usually limited to 10 – 20 million, which is very small compared to the approximately 1,700 million baht normal circulation banknote and the 1000 baht type with Approximately 1,600 million copies
Putting commemorative banknotes in ATMs is intended to facilitate the public access to commemorative banknotes. Without the need to line up for exchange at a commercial bank branch
6. Commemorative banknotes cannot be used with automatic deposit machines.
The commemorative banknotes cannot be used with automatic deposit machines because the program has to be modified at the automatic deposit machines nationwide. The volume of commemorative banknotes is less than 1.2% of all banknotes in circulation.
Therefore, if people want to exchange commemorative banknotes for regular circulation notes Can contact for exchange at any commercial bank branch, Government Savings Bank, Bank for Agriculture and Agricultural Cooperatives. Government Housing Bank And Islamic Bank of Thailand
The public can view detailed properties of commemorative notes at http://bit.ly/2KrLW3q
Additional information: Banknote Business Strategy and Management Department
☎️ 0 2356 8687-90
???? [email protected]
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