Friday, February 5, 2016

Currencies: 500 zł soon in circulation. In our portfolios banknote rather not see – Virtual Poland

Most likely in the next year will go into circulation a new banknote 500 in PLN with the image of John III Sobieski. At the beginning we see him as often as dwusetkę dozen or so years ago.

On the new Five Hundred will appear Jan III Sobieski. NBP said that since so far all denominations were in the form of rulers, is 500 zł will not change anything. In Internet circles, although photos showing the alleged design of the banknote with the image of Queen Jadwiga, but this only joyful work of an unknown graphics.

It is known that the project is working with Sobieski 88-year-old Andrzej Heidrich, who is the author of other Polish banknotes. If NBP will maintain the date of introduction of a new denomination in 2017, the new bill will see the autumn.

500 zł a precaution

At the moment in circulation about 1.7 billion banknotes of various denominations. It’s all paper money, which we keep in their wallets, socks, ATMs that are in store cash registers and bank vaults. Their number, together with the growing economy is growing steadily.

Currently, the value of cash in circulation is over 170 million zł, while the money circulating in the economy (ie. The M3 money supply) – and thus what we have posted on our bank accounts – more than a billion dollars.

– our analyzes suggest that the new denomination will need the economy in the next few years. Poland is developing and growing demand for cash, and forecasts indicate that in the near term, growth should be stable. Therefore, we need more money. The current structure of the banknote denominations has been established in the first half of the 90s and then 200 zł was prepared to supply – explains Przemysław Kuk of the Polish National Bank.

He added that the NBP vaults must be set aside certain amount of money in cash just in case. So far, the role of the reserve for 20 years he was a 200-dollar bill in PLN. Its function must now change, because today is a completely different value than two decades ago, when it was shown for the first time. Why? Because, for example, the average salary in 1995 was on hand approx. 600 zł. And now it is ok. 2800 zł net.

It is no wonder that the demand for 200 zł and growing denomination increasingly we see in our portfolio. In recent years, the growth was even a dozen or so. Last year it was up 20 percent. With so much more zażyczyły themselves banks of the denomination of the NBP.

Running out of cash

What’s interesting – growing demand not only the biggest banknote, but generally for cash . It generates not only economic growth but also … deflation. How it’s possible? According to Przemysław Kuka it is the effect of small gains on investments. Cash to banks in the world simply is not profitable, and therefore are legally keep her at home. The circuit begins so the missing.

The plan is to simplify this, to 200 zł become so popular as 100 zł, and the banknote 500 zł as the present 200 zł.

– The first phase 500 zł will be used mainly as a strategic reserve. The vaults the NBP will set aside a certain amount of it, in case he increased the demand for cash, but this does not mean that this bill will not be seen in daily circulation – notes Przemyslaw Kuk.

As part of this operation refreshed 200- penny, which is soon to hit the market. NBP no secret that the new version of the note, but better protected, it is cheaper to produce than the previous one. Because that’s what costs are a major factor in encouraging the introduction of a new denomination. It is easier, however, print one 500 zł than twice the 200 zł and 100 zł time. Then there are issues related to logistics. Simply million zlotys pięćsetkach will be three times less weighed and occupied three times less space in the vault.

500 zł per child

Denomination “500″ functions for the same reasons other similar to our payment systems. Few people know that it is 500 euros. Even fewer associate how this bill. What is interesting is the favorite denomination … criminals. The reason the same as in the case of logistics, banking – it is easy to transport. For the ocean decades ago precisely in connection with the popularity of high-denomination among criminals stopped the printing of banknotes of 500, 1000, 5 thousand. and 10 thousand. dollars. The circulation of the most common large denomination is now $ 100 with the image of Benjamin Franklin.
This is the image of John III Sobieski by Andrzej Heidrich published in the Mail Polish kings

the idea of ​​introducing a new banknote 500 zloty appeared for the first time in June last year. At the same time, Law and Justice began to talk about the program payments 500 zł per child. Przemysław Kuk declares, however, that this is just a coincidence. A NBP and the Ministry of Family, Labour and Social Policy is not talking. Although it is so curious coincidence of time, it may be that the Five Hundred will also use other …

LikeTweet

No comments:

Post a Comment