Section III examines issues relating to the initial value of the currency, the denominations to use, and the broadest considerations regarding the quantity of bank notes to print. Section II covers issues relating to the design of bank notes, including design selection and philosophy colors, texts, and subjects user needs security features and durability. The body of the paper is in seven sections.

Professional outside assistance may also be needed when attempting such an undertaking. However, it should not be forgotten that many of the issues in this process are deep and complex. The paper is intended to help those charged with designing, producing, and printing a new currency to proceed in an orderly and informed manner, including helping to ensure that key items are not overlooked and that the job is done in a cost-effective manner. 2/ While the main source material is published documents, information, and discussions with experts in the field, the paper also draws upon material produced by the Monetary and Exchange Affairs Department of the IMF in connection with its technical assistance work in a number of countries that have been confronted with this problem. This paper seeks to help ameliorate part of this problem by discussing the main issues in designing, producing, and printing a new currency. However, this task is made difficult by the lack of consistent, published information of the various aspects of this process. In addition, many countries that already have their own currency wish to enhance the currency’s attractiveness, usefulness, durability, and/or security.

In fact, at times it is a necessity, either because the currency of an earlier union is being demonetized or because the former dominant member is making it difficult for the newly formed-or freed-country to use the country’s former currency. Newly independent or structurally transforming countries often feel a pressing need to introduce their own national currency.

The Color Project by Sierra Abrams