Balboa returns to Panama

Panamanian authorities have confirmed that prepare Balboa coinage, the national currency to circulate alongside the U.S. dollar. The head of the Procurement and Contracting Unit, Ministry of Economy and Finance, José Ramón Fernández, said the project foresees the designation coinage of one and two Dollars.

The proposal supports the circulation of coins with the same nominal value of the dollar to reduce costs by managing the foreign currency as legal tender in Panama since 1904, has served the international banking system development.

Today, Panama coins minted 50, 25, 10, five cents and a penny for the same weight and size of its U.S. peers, but not until now that boom takes the initiative to be put into circulation the balboa.

Early Dollars printed on paper or metal wedged circular stopped decades ago, when the Panamanian economy was still small and became overwhelming presence of the dollar. Fernández predicted that "all banks established in Panama accepted the new balboa and use it with the same nominal value of the U.S. dollar without restriction, as it is done with free circulation coins.

Some people consulted by the page Américaeconomica.com considered that this is an unrealistic step and do not opt for replacement. Gustavo Chacin, V Finance invesment, receurda that Panama has no central bank and that "the replacement of the dollar is not viable. It would be suicide for the country because you do not.The debt is dollarized, so that replacement by balboa no sense. "

Chacin believes this is an issue returns to the debate every so often. "It's a nationalistic debate meaningless, he said. The dollar came into force in Panama when Panama's economy was still small and it was overwhelming presence of the dollar. At present, the country's economy reached 20,000 million dollars of GDP, which, according Chacin, remains low.

Minister Fernandez said that the Panamanian government to the United States pays a high cost for the return of damaged notes, and they have a lifespan of nine months to a year ago. Panama added that the dollar it costs to acquire the United States. However, to circulate the U.S. dollar in Panama, Mexico, through the National Bank of Panama to purchase face value in its various denominations, and must bear all freight and insurance costs implicit in the import operation themselves.

The same occurs with the U.S. dollar coins because they are the owners of the right of the perceived usefulness of the cost of minting the coin and the face or nominal value that represents the same, which is known as seigniorage .

Panama only get seigniorage in national currencies are balboa Dollars or fractions, ie when the service contract coinage minting a house.

In that sense, Panama only benefits from seigniorage (which can be very significant in currencies like one or two Dollars and it is planned), when asked to mint its own coins to a mint instead of importing all euro notes and coins from the United States of America, and give all this utility to the U.S. government.

New 2000 pesos in Colombia

The Bank of the Republic of Colombia put into circulation, the newbill of 2,000 dollars which has a trademark for the Blind, located onthe left side and in high relief that corresponds to the number "2" in Braille.
This ticket has the same design and same security system as above.
In Bogotá this new version (braille) entered service on December 28, 2010, with an edition of 100 million units, two thousand.Throughout the month of January will be distributed in the differentbranches of the Bank of the Republic.
Currently, the only bills that have Braille are 50 thousand dollars tohave the number 50 on the lower face of the ticket, along with theserial number, also in relief.
According to the Issuer, gradually all tickets will be modified withBraille.

Coin of Raimondi Stela in Perú

The Central Bank put into circulation from today the third coin Nuevo Sol A coin series "Wealth and Pride of Peru", alluding to the Raimondi Stela.

By a circular issued today in the official gazette El Peruano, the Central Bank states that the currency is Alpaca alloy characteristics, with a weight of 7.32 grams and a diameter of 25.5 mm and chamfered edges.

On the front is a Coat of Arms and back the name and scenes from the Raimondi Stela is carved in one side represent the main deity of the Chavin culture.

This divinity is felinizada anthropomorphic type, standing, facing forward, with open arms, each arm holding a sort of staff. The hands and feet end in claws.

On the left side of Stela mark appears the National House of Money on a geometric design of vertical lines. The right side of the trail is the denomination, the name of the currency on undulating lines and a banner reading "Estela de Raimondi, S. VIII and V BCE. "

The issuance of this third coin is 10 million units and will circulate simultaneously with the current coins of A New Sun.

Bank of Nicaragua 50 anniversary coin

The Central Bank of Nicaragua (BCN) officially launched commemorative coins alluding to the 50 anniversary of its creation as part of activities for the anniversary, and for the purpose of leaving a testimony of the event to the nation.
The three types of coins which were minted in gold, silver and nickel under the name of 50 cords, are 35 mm in diameter and weighs 31,103 grams.
At the top of the front it reads 50 Anniversary, at the right is the National Bird Guardabarranco with the year of issue 2010, the center four Sacuanjoche flowers at the bottom and the name 50 Cordobas, the reverse has the shield of the NCB .
The President of BCN, Antenor Rosales Bolanos said that with the issuance of the gold coin is to recognize the efforts of all Nicaraguans, as well as officers, employees, workers who have contributed valuable to fulfill its monetary authority fundamental objective to ensure price stability and the smooth functioning of the internal and external payments.
He added that with the silver seeks to represent the transparency and the Central Bank's continuing change in the 50 years since its establishment has appropriated the unique challenges of each period in the economic history of our country and the demands of international environment, promoting key actions for monetary policy, exchange and credit.In the case of nickel, a hard strong element, Rosales said it represents the institutional strength of the Central Bank in its 50 years of commitment to stability and economic development of the nation.
During the presentation ceremony in recognition of valuable contributions in the 50 years of institutional life, the 50 th Anniversary Gold Coin it was handed to the presidents of the national monetary authority of the period from 1960 to 2006.

Coin conmemorative 70 anniversary of the BCV

The Central Bank of Venezuela (BCV) will circulating a special coin of Bs 0.50, designed and minted by the Central Bank to celebrate its 70th anniversary.
It is of 5,000,000 pieces, which are distinguished from the current 0.50 per show Bs on the reverse the official logo of the 70 anniversary of the BCV, in the front are the same. These coins are legal tender, ie allow for payments for goods and services, but is expected to arouse the interest of collectors, since it is a finite issue: once you've put them all in circulation will be minted overwith the same characteristics.
The allocation of the coins will be the same as conventional ones.In the piping of the bags of 1,000 pieces with the name of Bs 0.50 be combined at random 200 pieces of the special edition.Therefore, will appear gradually and the possibility of finding them when conducting transactions with a single.

La Casa de la Moneda de Venezuela, minted coins with the steel and nickel alloy of the same denomination coins in circulation. With such measures the Central Bank intends to promote a culture of greater care and awareness about the heritage value of banknotes and coins.

Bicentennial coins Uruguay

The Government sent to Parliament a proyect to enable the Central Bank to mint coins of 50 and 1,000 pesos to commemorate the bicentenary of the Emancipation East, which will be celebrated in 2011.
The bill continues the tradition of reflecting on their banknotes and coins, the most important milestones of national history. "
Will be ten million coins minted from 50 Uruguayan pesos will color "antique copper", a diameter of 28 mm and to 10.4 grams. In addition, another 5,000 units will be minted with a value of 1,000 Uruguayan pesos. "The coin is silver. A tolerance of 2% alloy.Have 25 grams and 37 mm in diameter Its shape is circular and fluted edge, "reports president.The ornamentation of the coin is at the discretion of the Central Bank.

Chile´s new 2000 pesos banknote

On November 17 will begin to circulate the new banknote of 2,000 pesos, which was presented by the Central Bank.

José DeGregorio, president of the Central Bank, said the first ticket will start circulation through commercial banks and then via ATMs.

This, like the current one, will be of polymer, but its design has some changes, such as favoring the face of Manuel Rodriguez, based on an engraving by Narciso Desmadryl of 1854, and eliminate riding a horse drawing, as well as the change registration position of the Central Bank of Chile, which was previously up and now goes to the bottom.

On its face, the new bill, which maintains the same color-has a more pronounced relief, while the transparent regions now incorporate details such as the face of Rodriguez.

It also incorporates the image of the heart of Copihue (national flower) and Antu (mapuche symbol) in the same position as the $ 5,000.

Meanwhile, the back has an image of the National Reserve Nalcas in the Araucanía Region, where the volcanoes and Tolhuaca Lonquimay.

In relation to security of the ticket, De Gregorio said that "there are more items tactabilidad and contains more elements of uniform design safety." Also maintained that "we have seen crude imitations, as these tickets are extremely complex to fake."
Facing some criticism from people about some of the new polymer banknotes, De Gregorio said to be "they are lifestyle changes that are occurring throughout the world regarding the use of polymer, which is the same as used in the $ 5,000 "Moreover, the BC announced that the $ 1,000, which will also be polymer begins to flow starting next year.

This is the fourth note of the "new family" of paper money in September 2009 began to replace the one that existed 30 years ago.

In 2011, with the introduction of the bill of $ 1,000, complete the reversal of tickets to the new family. According to the BCV, the day that a circular will be announced "in due course by the Central Bank, as has been done with the other denominations."