21/12/2007

NBS to Launch New Series of Banknotes

With a view to introducing additional security features and improving banknote design and manufacturing technique, the National Bank of Serbia has taken the first steps towards issuing new banknote series. By their main characteristics – denomination structure, common theme represented through a selection of specific motifs, and artwork - these banknotes will make up a uniform series of nine denominations: 10, 20, 50, 100, 200, 500, 1000, 2000 and 5000 dinars.

Preparation for the manufacturing of a new series of banknotes is a multiple-phase and complex process the completion of which takes two years at least. The NBS will keep the public informed of the progress in these activities. Once the preliminary design is selected, the NBS will decide whether and when it shall print the new banknote series and put them in circulation.

Preliminary design of the new series of banknotes will be selected through a public competition, expected to be announced in late December 2007. The purpose, participation criteria, compulsory elements of the preliminary design, selection criteria, terms of purchase, copyright, closing date and the manner of submission of design proposals will be publicly announced. It is important to note that all citizens of the Republic of Serbia are eligible for participation in the competition, except members of the evaluation panel, their deputies, persons in charge of monitoring and reporting on the competition process, competition program designers, NBS staff in charge of the technical elaboration of artwork design and their closest family members.

Given that money represents a part of our culture and national identity, and its design and physical condition often play an important role in forming first impressions of our country and its citizens, the National Bank of Serbia will prepare an exhibition featuring the selected banknote designs so that all members of the public can vote for those they like best, and thus, be involved in the process of designing our banknotes.

Governor`s Office