indianbanknote

SPECIMEN RS.10,000 KING GEORGE V BANKNOTE PRINTED 

AT CURRENCY NOTE PRESS, NASIK

Currency Note Press, Nasik - the Beginning: 

In 1922, Lt. Col. G. W. Willis, Master of Mint at Bombay and F.D. Asooli, Controller of Printing and Stationery, Government of India, Delhi, were appointed to explore the feasibility of printing notes in India.  Based on their report in 1924, the Government of India arranged to set up an experimental press.  Also to test the possibility of security printing in India.  During 1925-26, the Government decided to terminate the contract with the Bank of England for the printing of currency notes with effect from January 1, 1928.  This was originally to expire in June 1929.  

Nasik Road was selected as the site for the Security Press for two reasons: 

1. No sudden & large changes in humidity and temperature.  
2. Nasik is situated on the main railway line having direct access to all parts of India.

A site was selected close to Nasik Road railway station.  The construction of buildings including staff-quarters began in August 1926 and was completed by the beginning of 1928.

Elgar £20 Banknote to be Withdrawn

Do you know that banknotes bearing the image of England's famed composer Sir Edward Elgar will be withdrawn from circulation at the end of June. The composer of the Pomp and Circumstance Marches has adorned the £20 note since 22 June 1999, but the Elgar note will cease to be legal tender after June 30. The Elgar notes are being withdrawn under authority given to the Bank by virtue of Section 1 (5) of the Currency and Banknotes Act 1954.n to the Bank by virtue of Section 1 (5) of the Currency and Banknotes Act 1954.

Do you know that banknotes bearing the image of England's famed composer Sir Edward Elgar will be withdrawn from circulation at the end of June. The composer of the Pomp and Circumstance Marches has adorned the £20 note since 22 June 1999, but the Elgar note will cease to be legal tender after June 30. The Elgar notes are being withdrawn under authority given to the Bank by virtue of Section 1 (5) of the Currency and Banknotes Act 1954.n to the Bank by virtue of Section 1 (5) of the Currency and Banknotes Act 1954.

Read more: http://lunaticg.blogspot.com/2010/06/elgar-20-banknote-to-be-withdrawn.html#ixzz0zeFy80g1

OPEC expects difficult times in the first half of next year

The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC) Abdullah al-Badri said he was concerned about the global economy and said the rest of 2010 and the first half of 2011 will be a very difficult period.
Badri said that the oil market seems reluctant to accept the oil prices in a range of 75 dollars to 85 dollars a barrel and that he expected to keep prices in that range for the rest of the year.
Badri said "the rest of this year and the first half of next year will be difficult. We must be very careful about any action taken by any one."
"It will be a probationary period is very interesting. Either to overcome a recession or a return."
"I think that the global economy needs a stimulus program, another."

International Monetary Fund expects the budget problems in Greece

International Monetary Fund said in a report on Greece published on Tuesday that some of the problematic elements in the second half of the year may be held policy of reducing the deficit in the budget after the recent success.
The report, which dates back to 26 August on the economic progress of the program after obtaining a loan for Greece, about 30 billion euros, that "the risk of suffering from the prospect of revenue because the economy will shrink and expenses of the local bodies are not fully controlled by the government."
"In addition to that, there are some budget cuts in terms of expenses must show results due to the focus on the payment of interest and the high military spending in the second half of the year."
He also disclosed the amounts that will cover the end of the year expenses of the hospitalization sector.
The statement said that "things are not visible currently in the budget such as guarantees of the debt would amount to 5.1 billion euros, with the difficulties facing public institutions in terms of refinancing the debt would accrue."

Dollar rises strongly and the yen back down after the intervention of Japan

Win dollar Lenin from the lowest level in 15 years against the Japanese currency after Japan intervened to sell yen for the first time six years ago in a move traders said it aims only to gain time in Tokyo's efforts to curb the continuing rise of the yen.
The move also helped push the euro and Australian dollar and the pound sterling to rise 2% against the Japanese currency during the day although it was unclear whether Japan has bought any other currency than the dollar.
He said Japanese Finance Minister Yoshihiko Noda, Japan has intervened in the currency market as it can not turn a blind eye on the impact of the rise of the yen on the economy, adding that his country would continue to take action and she was acting alone.
The dollar rose 4.2% to 05.85 yen while the euro was up 2.2% to 34.110 yen.
Traders said that Japan might want to raise the dollar to about 85 yen.
The Australian dollar jumped to its highest level in almost three months at 72.79 yen. 

EUR Falls After German Sentiment Report

Following news that the Japanese Prime Minister will stay in power after an inter-party vote, the yen hit a fresh 15 year high against the US dollar. The news reinforced suspicions among investors that the Bank of Japan would not attempt to intervene and devalue the yen. USD/JPY dropped as low as 83.07 before staging a moderate correction. Currently the pair is trading around the 83.30 level. Analysts are warning that if the yen is not devalued, the USD/JPY pair could drop well below the 83.00 level.
In other news, the euro dropped some of the gains made over the last few days following a significantly worse than expected German ZEW Economic Sentiment figure. The figure is a prediction of economic health according to a number of experts. At -4.3, this month's result was the lowest since January 2009. Investor confidence in the euro-zone economic recovery was shaken as a result, causing the EUR/USD pair to drop almost 70 pips.
As for the rest of the day, a better than expected US Core Retail Sales report is currently causing riskier currencies to make gains against their safe-haven counterparts. It appears that the risk taking occurring in the marketplace at the moment may be the start of a prolonged trend, in which case the greenback is likely to continue to reach new lows.

www.forexyarad.com

Euro/dollar Soars to 1-Month High

The U.S currency dropped against all the major currencies on Tuesday after reports ‎showed U.S. retail sales and business inventories rose more than expected. The data eased ‎investors' worries about the outlook for the global economy, making them more willing to ‎buy riskier assets, including stocks and commodities, and moving away from assets ‎considered safer, such as the greenback.‎ The dollar turned lower versus the euro after a report showed U.S. business inventories ‎jumped 1% in July. The euro's advance began after U.S. retail sales rose more than ‎expected in August, notching the largest gain in 5 months. Once the euro broke above ‎‎$1.2920-30 area, the level that was the top of the range since August, it kept going to a ‎one-month high of $1.3033. It was last up 1% at 1.3000. The move may be accelerated, as ‎being at parity was a key technical point which may encourage more selling of dollars, ‎analysts said. ‎

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