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Cash News: January 25-February 5

Categories : Cash and Crises, Cash connects people, Cash is trust, Future of Cash
February 7, 2023
Tags : Afghanistan, Argentina, Bitcoin ATM, Queen Elisabeth II, War on Cash
Elsewhere on the Web provides weekly updates and links to articles related to cash, money and payments curated on the web.
Guillaume Lepecq

Chair, CashEssentials

This post is also available in: Spanish


Here are some of the highlights since January 25.

Afghanistan: Central Bank calls for better care of banknotes

In late 2022, the media reported the arrival of much-needed new banknotes overseas to replace damaged notes and address Afghanistan’s liquidity crisis and humanitarian disaster.

Now the media report that the Central Bank is calling on Aghanis to pay attention to how they handle banknotes to extend their lifespan.

Argentina unveils new banknote as the artist paints on devalued currency

The central bank of Argentina will issue a new 2,000 peso note in response to soaring inflation, reports BBC News.

The new note will be worth $11 officially and comes after consumer prices jumped by nearly 95% in the 12 months to the end of December. The most significant current denomination, the 1,000-peso note, is worth just $2.70 on informal markets.

An artist is combating ongoing inflation by painting on depreciated banknotes. Sergio Guillermo Diaz, a painter and museum worker, has been raising the value of an increasingly valueless currency, from two-peso to 1,000-peso notes, by depicting pop culture icons and historical artworks, often combining bills to develop larger compositions.

In January, Brazil and Argentina announced plans to create a common currency that would be used to boost trade between the two countries.

Bitcoin ATM companies are preying on the poor

According to the non-profit news organisation Truthout, ATMs enabling the purchase of cryptocurrencies “fit  seamlessly into the existing ecosystem of high-priced financial services used by people struggling to make ends meet.” The article describes how Bitcoin ATMs frequently advertise low service fees but charge far higher fees, often bundled into unfavourable exchange rates. Companies typically charge between 6.5 and 20% estimates the article.

Cash is not dead — it’s in transition

Vending Times summarises the discussions held at the Self Service Innovation Summit in December in Florida. The panel gathered Vik Devjee of CIMA Cash Handling America Inc., Rocco DiNapoli of Superior Amusements, Bruce Renard of the National ATM Council and Andrew Kartiganer of Professional Vending Services Inc.

“No, cash is not dead at all.” Bruce Renard said. “We’re in a war on cash — it’s a global war. And there’s an unholy alliance out there between companies that would benefit by cash going away, along with law enforcement and taxing authorities,” Renard added, noting that his group has been lobbying Congress in support of the Payment Choice Act, which he said is designed to “preserve the option for consumers to pay with cash throughout the country.”

Swiss libertarians push for votes to guarantee the survival of cash

According to Swissinfo, the Swiss people are likely to vote on a people’s initiative to preserve banknotes and coins launched by the Swiss libertarian movement. The movement fears a complete digitalisation of money and hopes to protect cash through the constitution, imposing that a move to abolish the Swiss franc would have to be approved by the people and the cantons. More than 157,000 signatures have been collected so far.

Women on banknotes remain rare

Forbes stresses that the death of Queen Elisabeth II featured more banknotes than any other female, which could result in a decline in the number of banknotes featuring women. The number of countries featuring women on their banknotes reached 46 in February 2023.

The Reserve Bank of Australia has announced that the new $5 banknote will feature a unique design that honours the culture and history of the First Australians to replace the portrait of Queen Elizabeth II.


Here’s what’s new on all things cash and money curated on the web since January 25.

FEBRUARY 1 – 5, 2023

JANUARY 25 – 31, 2023

This post is also available in: Spanish