China announces new yuan banknotes designed to foil counterfeiters



The Chinese central bank on Monday announced it would issue a brand new version of the 100-yuan bank note from November 12.

The new bills, which are slated to roll out later this year, will be loaded with next-generation security features to deter counterfeiting and easier for machines to read, claimed the People’s Bank of China.

Part of the fifth set of bank notes introduced by the PBOC in 1999, it was last changed in 2005.

The design of the new bank note will stay largely the same as the the 2005 series but have enhanced security features, the PBOC said.

The 100-yuan note is the largest denomination of the Chinese currency.

The old version of the 100-yuan note will stay in circulation following the new edition, the PBOC added.

China’s yuan remained stable on Monday with the spot market opening at 6.2097 per dollar and was changing hands at 6.2096 at midday, almost unchanged from the previous close.

Source: Agencies

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