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London, United Kingdom, 2010/02/15 - ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report.
According to the report “Worldwide Banknote Industry Research Report” available at ReportBuyer.com at present USD is the most common and preferred currency for trade but Euro is also a strong currency believed to be a safest from the forgery point of view. Nowadays banks outsource a large part of the distribution and recycling of cash to the private companies, cash in transit or professional cash handlers or sub contractors. The purpose of the new report is to analyse the scope in the banknote production sector and opportunities to grow in near future.
The 33 page report analyses global banknote production industry focusing on major markets like United States, European Union, Switzerland and New Zealand. It provides an assessment of the market environment, recent developments and financial position of the leading players. Here we have talked about De La Rue plc, Giesecke & Devrient GmbH and Cartiere Paolo Pigna S.p.A.
The report highlights the following key points:
• In the banknote paper production industry, competition has intensified within the private mills for contracts from the central banks; also the industry itself is facing a tough competition from the payment cards industry.
• In terms of Euro currency, the Volume demand is typically concentrated in few denominations.
• Despite the introduction of number of security features the counterfeiting volume has remained remarkably steady in the recent years. The volume of counterfeit Euro notes seized by authorities grew by 18% in 2008, which were approximately 666,000 notes.
• There is an apparent paradox in that the value of notes in circulation has been rising year after year at the same time that evidence suggests that the use of notes to pay for transactions is declining.
• Among the Southeast Asian countries along with Brunei, Singapore is one of the two countries which issued the highest value banknote in the world.
• In the past two decades, the international usage of U.S. banknotes expanded largely because of the breakup of the Soviet Union and high and volatile inflation in Latin America.
• In Switzerland, since the inception of Swiss National Bank (SNB) in 1907, the banknote circulation has risen drastically in terms of value, which corresponds to inflation.
• In New Zealand, in the last 5 years the value of currency has risen by 24%. It rose from $3.5 billion to $4.3 billion. Cash held by general public has risen by 35%, while that held by banks has declined by 10%.
• Polymer banknote technology is being adopted in more than 33 countries across the world. There are many positive sides of the technology and it has provided solution to certain extends for counterfeiting threats.
The report “Worldwide Banknote Industry Research Report” is available from Report Buyer.
Report Buyer product ID: AMS00008
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