Japan's first banknote renewal in 20 years is expected to happen soon. Countries across the globe are conducting banknote renewals for various reasons.
One of them is to guard against counterfeits. By changing bills and coins-making their designs more complicated and harder for produce-governments can protect the integrity of currencies against counterfeiters.
This is also the case for Japan's upcoming banknote renewal. To give you more idea about it, here are the major details you need to know.
Japan's First Banknote Renewal in 20 Years To Happen
According to Japan Times' latest report, the Japanese government is expected to release their renewed banknotes as early as July 2024.
This will be the country's first-ever banknote renewal since 2004. Recently, the Bank of Japan already said that they completed printing the last batches of ¥10,000 banknotes in September 2022.
They decided to stop the production of ¥5,000 and ¥1,000 banknotes as well. Sources familiar with the Bank of Japan's activities claim that mass production for the renewed bills already started.
But, the circulation of these new bills is expected to begin in 2024. The new Japanese banknotes are expected to have the latest anti-counterfeiting technologies.
These include 3D holograms, which change depending on the angle people are looking from. High-definition watermarks, luminescent ink, and microprinting tech will also be used, as reported by The Mainichi.
Japan Banknote's Changes
There will be numerous changes in the renewed Japanese banknotes in 2024. The new ¥10,000 bill will use the face of Eiichi Shibusawa; the father of Japanese capitalism.
The upcoming ¥5,000 banknote will have the women's higher education pioneer, Umeko Tsuda.
Meanwhile, the new ¥1,000 bill will feature Shibasaburo Kitasato, a microbiologist who developed a serum therapy for tetanus.
On the back of these three Japanese banknotes, images of Mount Fuji, wisteria, and the Tokyo Station building will be seen.
All these images are designed by Katsushika Hokusai, a well-known ukiyo-e artist.
If you want to learn more about Japan's renewed banknotes, you can click this link.
