Saturday 19 October 2019

Switzerland releases new version of banknote worth £760

The Swiss National Bank said the new note is smaller with ‘complex security features’.

The new 1,000-franc banknote (Ennio Leanza/Keystone via AP)
The new 1,000-franc banknote (Ennio Leanza/Keystone via AP)

By Associated Press Reporters

Switzerland’s central bank has unveiled a redesigned version of its 1,000-franc (£760) note.

The Swiss National Bank said the overhauled version of its highest-denomination note is “smaller and thus easier to handle” than its predecessor, as well as incorporating “complex security features”.

The purple and yellow note, featuring a handshake on one side and the Swiss parliament on the other, will go into circulation from March 13.

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Fritz Zurbruegg, vice president of the board of directors, presents the new banknote in Zurich (Ennio Leanza/Keystone/AP)

The 1,000-franc note is a longstanding tradition in cash-friendly Switzerland.

The country’s approach contrasts with that of the European Central Bank, which in 2016 decided to discontinue production of its 500-euro note — currently worth £430.

The ECB dropped its biggest note amid concerns that it had become too popular among crooks and money launderers.

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