Central Banks
SNB Plans New Banknotes Despite Dwindling Demand for Cash
- New franc bills to be introduced in 2030s, central bank says
- Swiss hold most bills and coins in Europe, but use declines
Cash is an emotive issue in Switzerland, where every inhabitant holds the equivalent of $10,481 in bills and coins.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
The Swiss National Bank unveiled plans for a new series of banknotes even as the appetite for physical money fades in Europe’s most cash-savvy economy.
The new bills will be introduced at the beginning of the 2030s at the earliest, the SNB said on Wednesday. The theme of the banknotes will be “Switzerland and its altitudes,” with each of the six notes dedicated to a different Swiss region from valleys to mountains.