banknotes definition
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banknote banknote, [[File:CHF Banknotes.jpg|thumb|The current banknotes of the Swiss franc series possess at least eighteen security features.]] A banknote (often known as a bill, paper money, or simply a note) is a type of negotiable instrument known as a promissory note, made by a bank, payable to the bearer on demand.
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- Whereas the 1 million pound note is A5 in size, the 100 million pound note is the larger A4 size. This is by far the largest (known) banknote in the world in terms of real value.
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The world's biggest bank notes Finally, the largest bank note ever denominated is the Zimbabwe $100 billion note. The note was created during a period of economic meltdown in Zimbabwe, inflation was at a shocking 231,000,000% and the Z$100 billion was actually worth virtually nothing.
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Currency A currency (from Middle English: curraunt, in circulation, from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.
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Banknotes of the Canadian dollar The first paper money issued in Canada denominated in dollars were British Army notes, issued between 1813 and 1815 in denominations between $1 and $400. These were emergency issues due to the War of 1812. The first banknotes were issued in 1817 by the Montreal Bank.he third series of banknotes of the Canadian dollar issued by the Bank of Canada was the 1954 series. The banknotes were designed in 1952 following the accession of Elizabeth II to the throne after the death of her father George VI.
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Banknotes of Zimbabwe The first banknotes of Zimbabwe were issued by the Reserve Bank of Zimbabwe (formerly Reserve Bank of Rhodesia) for the first dollar (ZWD) in 1980 to coincide with the independence of Zimbabwe. These notes replaced the circulating banknotes of the Rhodesian Dollar at par.
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Money BREAKING DOWN 'Banknote' Originally, people used objects, such as gold and silver, to pay for goods and services. Eventually, paper money and coins replaced these physical assets. Precious metals backed the new currencies. At present only the government backs banknotes.
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What is Banknote? A banknote (often known as a bill, paper money, or simply a note) is a type of negotiable instrument known as a promissory note, made by a bank, payable to the bearer on demand.
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banknote Development of the banknote began in the Tang Dynasty during the 7th century, with local issues of paper currency, although true paper money did not appear until the 11th century, during the Song Dynasty.
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Negotiable instrument A promissory note is defined as an instrument in  writing (not being a bank note or a currency note), containing an  unconditional undertaking signed by the maker, to pay a … certain sum  of money only to or to the order of a certain person, or to the  bearer of the instrument.
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wallet wallet. A wallet is a small, flat case made of leather or plastic, in which someone, especially a man, keeps banknotes and other small things such as credit cards. In American English, a man's wallet is sometimes called a billfold, and a woman's wallet is sometimes called a pocketbook.
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User Contributed Dictionary In 1988, Austria produced the 5000 Schilling banknote (Mozart), which is the first foil application (Kinegram) to a paper banknote in the history of banknote printing. The application of optical features is now in common use throughout the world.
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currency 2a : something (as coins, treasury notes, and banknotes) that is in circulation as a medium of exchangeb : paper money in circulationc : a common article for bartering Furs were once used as currency.d : a medium of verbal or intellectual expression … neither side possessed any currency but clichés … — Jan Struther.
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Banknotes of the pound sterling There are no Welsh banknotes in circulation; Bank of England notes are used throughout Wales. The last Welsh banknotes were withdrawn in 1908 upon the closure of the last Welsh bank, the North and South Wales Bank.
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- Video duration 3:51. How bank note paper is made Jump to media player The Landquart paper mill in Switzerland makes the paper for Swiss francs and euros as well as bank notes for many other countries. Production manager Marco Zeithen gave the BBC a tour. 21 Sep 11. From the section Business.
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bank (bæŋk) n. 1. a long raised mass, esp of earth; mound; ridge. 2. (Physical Geography) a slope, as of a hill. 3. (Physical Geography) the sloping side of any hollow in the ground, esp when bordering a river: the left bank of a river is on a spectator's left looking downstream.
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currency 2. a: something (as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange b: paper money in circulation c: a common article for bartering d: a medium of verbal or intellectual expression. See currency defined for English-language learners. See currency defined for kids.
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What is a 'Banknote' What is a 'Banknote' A banknote is a negotiable promissory note, which a bank can issue. A banknote is payable to the bearer on demand, and the amount payable is apparent on the face of the note. Banknotes are considered legal tender; along with coins, they make up the bearer forms of all modern money. A banknote is known as a bill or a note.
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User Contributed Dictionary Banknotes have a limited lifetime, after which they are collected for destruction, usually recycling or shredding. A banknote is removed from the money supply by banks or other financial institutions due to everyday wear and tear from its handling.
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Top 8 Largest Banknote Denominations (In Terms of Real Value) Face value in US$: $155,210,000. In addition to the 1 million pound banknote, the Bank of England also has stashed away 40 banknotes for the same purpose named titans with a value of 100 million pounds each. Whereas the 1 million pound note is A5 in size, the 100 million pound note is the larger A4 size.
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What is Banknote? Counterfeiting, the forgery of banknotes, is an inherent challenge in issuing currency. It is countered by anticounterfeiting measures in the printing of banknotes. Fighting the counterfeiting of banknotes and cheques has been a principal driver of security printing methods development in recent centuries.
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What is BANK NOTE? Link to This Definition Did you find this definition of BANK NOTE helpful? You can share it by copying the code below and adding it to your blog or web page.
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- (a) Coin or paper money of the United States or any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issue. (b) United States silver certificates, United States Treasury notes, and Federal Reserve System notes.
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- These are the Top 8 Largest Banknote Denominations (In Terms of Real Value) 8. - The United States 5,000 dollar note. Face value in US$: $5,000. I've written about large denomination currency in the US several times already, but the US used to issue dollar bills much larger than $100.
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currency Any form of money that is in public circulation. Currency includes both hard money (coins) and soft money (paper money). Typically currency refers to money that is legally designated as such by the governing body, but in some cultures currency can refer to any object that has a perceived value and can be exchanged for other objects.
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- This article explains how local currencies differ from banknotes. Existing local currency schemes are unlikely to pose a risk to the Bank’s objectives. However, consumers should be aware that local currency instruments do not benefit from the same level of consumer protection as banknotes.