Switzerland releases new version of banknote worth €881

Switzerland releases new version of banknote worth €881

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Switzerland’s central bank has unveiled a redesigned version of its 1,000-franc (€881) note.

The Swiss National Bank said the overhauled version of its highest-denomination note is “smaller and thus easier to handle” than its predecessor, as well as incorporating “complex security features”.

The purple and yellow note, featuring a handshake on one side and the Swiss parliament on the other, will go into circulation from March 13.

Fritz Zurbruegg, vice president of the board of directors, presents the new banknote in Zurich

The 1,000-franc note is a longstanding tradition in cash-friendly Switzerland.

The country’s approach contrasts with that of the European Central Bank, which in 2016 decided to discontinue production of its €500 note.

The ECB dropped its biggest note amid concerns that it had become too popular among crooks and money launderers.

 

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