What are latest regulations on the serial number of newly printed banknotes by the State Bank of Vietnam?

What are latest regulations on the serial number of newly printed banknotes by the State Bank of Vietnam?

On March 31, 2024, the Governor of the State Bank of Vietnam issued Circular 01/2024/TT-NHNN, which regulates the management of new banknote serial numbers by the State Bank of Vietnam.

According to the Circular, the principles of printing and managing serial numbers during the banknote printing process are as follows:

- Principles of printing serial numbers during the banknote printing process:

+ For banknotes issued by the State Bank of Vietnam before 2003, the serial number consists of a letter series and a natural number series of 7 digits, starting from 0000001.

+ For banknotes issued by the State Bank of Vietnam from 2003 onwards, the serial number consists of a letter series and an 8-digit natural number series. The two digits adjacent to the letter series represent the last two digits of the year of banknote production, and the following 6 digits are a natural number series starting from 000001.

+ Each banknote has its own unique serial number.

- Principles of managing serial numbers during the banknote printing process by the printing facility:

+ The printing facility must follow the principles specified in Clause 1 of this provision when printing the serial numbers on banknotes. In case a faulty banknote is discovered after the serial number printing stage, the printing facility must use a banknote with a replacement serial number. The principles for using replacement serial numbers are determined by the printing facility.

+ The printing facility organizes the storage and management of serial number information for each type of banknote (including the replacement series), ensuring the accuracy and completeness of the elements recorded on the sealed package, bundle, or newly printed banknotes or other packaging specifications as prescribed by the State Bank of Vietnam. These elements include the printing facility, type of banknote, letter series, and year of production.

Documentation related to the serial number series is stored at the printing facility according to its regulations.

What are latest regulations on the serial number of newly printed banknotes by the State Bank of Vietnam? - image from internet

What are regulations on the responsibility for monitoring, managing, and storing information of the serial numbers on newly printed banknotes in Vietnam?

According to Clause 2, Article 6 of Circular 01/2024/TT-NHNN, the responsibilities for monitoring, managing, and storing information on newly printed banknote serial numbers are as follows:

- The delivering party and the receiving party are responsible for monitoring, managing, and storing the serial number information of the newly printed sealed packages, bundles, or other packaging that have been delivered or received at their respective units.

- When the State Treasury or the State Bank of Vietnam branch delivers newly printed banknotes in sealed packages to credit institutions, branches of foreign banks, the State Treasury, or other entities, the delivering party is responsible for managing and storing the serial number information of the newly printed banknotes that have been issued to these units.

How are the letter series the serial number of banknotes in Vietnam combined?

According to Article 3 of Circular 01/2024/TT-NHNN, the letter series of the serial number is regulated as follows:

Explanation of terms:

In this Circular, the following terms are understood as follows:

1. Letter series: It is the part of the serial number formed by 2 out of the 26 letters of the alphabet (including: A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z). The letter series includes the main letter series and the replacement letter series.

2. Main letter series: It is the letter series used for printing on banknotes according to quantity and the annual banknote production structure.

3. Replacement letter series: It is the letter series used for printing on banknotes to replace damaged banknotes.

4. Serial number: It consists of the letter series and a natural number series with the number of digits as specified in Clause 1, Article 5 of this Circular.

5. Symbol: It refers to the elements recorded on the sealed packages, bundles, or other packaging of newly printed banknotes, as prescribed by the State Bank of Vietnam. The symbol includes the printing facility, type of banknote, letter series, package serial number, year of production, the name or identification number of the packager, and other elements according to the production process of the printing facility.

6. Newly printed banknotes: They refer to the original sealed banknotes produced by the printing facility according to the packaging specifications prescribed by the State Bank of Vietnam.

Therefore, the letter series of the serial number is formed by 2 out of the 26 letters of the alphabet (including: A, B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, Q, R, S, T, U, V, W, X, Y, Z). The letter series includes the main letter series and the replacement letter series.

Specifically, the main letter series is used for printing on banknotes according to quantity and the annual banknote production structure. The replacement letter series is used for printing on banknotes to replace damaged banknotes.

Note: Circular 01/2024/TT-NHNN takes effect from May 14, 2024.

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