New 10,000 yen, 5,000 yen and 1,000 yen banknotes featuring cutting-edge anti-counterfeit technology went into circulation in Japan on Wednesday, July 3, in the first design change in two decades.
The first batches of the new bills, featuring three-dimensional holograms of historical figures, were transported by truck from the Bank of Japan’s (BOJ’s) head office to financial institutions, Kyodo News reported.
Remarks on the Introduction of a New Series of Bank of Japan Noteshttps://t.co/esptcpx8wy pic.twitter.com/OyUUq5S9ID
— Bank of Japan (@Bank_of_Japan_e) July 3, 2024
Some consumers may be able to obtain them Wednesday at banks and automated teller machines.
The previous banknotes will remain valid, according to the Kyodo report.
The BOJ plans to ship 1.6 trillion yen worth of the newly printed bills on Wednesday, with its chief Kazuo Ueda underscoring the importance of banknotes as a “critical settlement method” even in the age of increasing cashless payments.
The bills use larger face value numbers than the previous notes to aid recognition and tactile marks for the visually impaired.
The Japanese government announced its plan to redesign the banknotes in 2019, allowing time for financial institutions and businesses to prepare.
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