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‘BOT’ clarifies the facts of commemorative banknotes After the public suspected the absence of stars and forged
In case there is a misunderstanding about the commemorative ticket at the 2019 Royal Coronation Ceremony Mr. Somboon Jitpanthom Assistant to the Governor for Bank Card Issuance The Bank of Thailand (BOT) would like to clarify the following:
1. Banknotes without EURion (Uryan) should not be easily forged.
EURion is one of the forms of protection against copying for copiers or scans, but it is not the necessary or most important form of protection against counterfeiting. Many countries in the Asia Pacific and Europe region do not adopt EURion, but are focused on providing an anti-counterfeiting feature. To be easily noticed by the public and criminals difficult to disguise to make them look real.
As with most commemorative banknotes produced in the past, the EURion was not used. But there are many anti-counterfeiting features. And still adopt advanced standard anti-counterfeiting technology like current banknotes and commemorative banknotes of all past generations
However, if the banknotes are counterfeited by scanning and printing them Used paper and ink AND that watermark will never make it look like a real banknote. People can be immediately distinguished as counterfeit bills “by tapping, lifting, turning, tipping”, which they can easily check for themselves.
• Experience the price type stamping on the corner of the banknote and the word of the Thai government.
• Lift the watermark on the paper, the 100 baht bill will see the royal statue AND the 1000 baht bills will see the watermark of the King Rama V logo.
• Tilt to view the magenta band. The face of the 100 baht note can be moved up and down and turn green. Also within the flower pattern Pikul of the 1000 baht bills has a circular shape that moves and changes from gold to green.
2. Banknotes issued by the BOT, even without EURion, meet strict anti-counterfeiting standards and can be exchanged for foreign currency.
All tickets issued by the BOT can be used for legal reimbursement. Therefore, commemorative banknotes can be used for various transactions in the country like normal banknotes. At first, merchants and money changers may not be familiar with the new banknotes. But later it was announced that the commemorative ticket was accepted.
To exchange baht banknotes abroad The Thai baht is not an international currency. It is not yet widely used in other countries. Banks or foreign exchange service providers may or may not accept banknotes, regardless of the presence or absence of EURion, but it depends on whether there is sufficient buy and sell demand from customers to complete the transaction. Currency exchange
3. New commemorative banknotes with 100% fully backed reserve funds
All types of Thai banknote issuance, price Both regular circulation and commemorative banknotes comply with currency laws. 100% of the foreign exchange reserve backed by current banknotes, including all commemorative banknotes The value of about 2 trillion baht, while the commemorative banknotes at this time the total value of 1.2 billion baht or about the 0.6% of the total volume of banknotes in circulation. People can check the amount of tickets issued. Included foreign exchange reserve Can be obtained from BOT’s weekly financial status report
4. Issuance of commemorative tickets does not count as BOT’s QE (Quantitative Easing) practice.
The issuance of banknotes in circulation, including commemorative banknotes, is a role of the Bank of Thailand in managing banknotes to meet the needs of the people. For the 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 companies such as the New Year and the Songkran period. That people need cash expenses The Bank of Thailand had to issue more notes. And when the festival passes The people’s demand for cash has decreased, the BOT withdraws cash from the system, in conclusion, the BOT cannot increase the amount of issued tickets. If individuals and businesses have no need to withdraw cash from commercial banks.
Regarding doing QE abroad Injecting the central bank liquidity Enter the economy through the accounts of financial institutions. He is not involved in ticketing in any way.
5. The number of commemorative tickets issued for collection is very small. Compared to banknotes in normal circulation, it is packed in ATMs for easy access to the public.
Previous issue of commemorative banknotes is generally limited to 10-20 million, which is very small compared to the approximately 1.7 billion baht normal circulation banknotes and the 1000 baht type with approximately 1.6 billion copies of the commemorative banknotes placed at ATMs are intended to facilitate public access to commemorative tickets. No need to queue for change at a branch of a commercial bank
6. Commemorative banknotes cannot be used with automatic deposit machines.
The commemorative ticket cannot be used with the automatic deposit machine. Because the program needs to be reviewed in the automatic deposit machines nationwide. The volume of commemorative banknotes is less than 1.2% of the total circulating banknotes. You can contact for exchange at any commercial bank branch, Government Savings Bank, Agricultural Bank and Agricultural Cooperatives. Government Housing Bank and the Islamic Bank of Thailand
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