The global banknote market is an integral part of an economy and the monetary policies of each country. As proved by the EURO, a currency can drive economic stability and economic and monetary integration within a region.
Moving from barter to currency, the introduction of banknotes was the landmark development which enabled the growth of trade and commerce transcending all geographic barriers.
The banknote market and especially the production of banknotes used to be a very secretive and protected system. But with the gradual opening up of the industry and private players contributing in the production system, the industry has slightly moved away from its secretive stance.
However, the participation of private paper mills is still very small as compared to state owned mills. Banks are now outsourcing a large part of the distribution and recycling of cash to private companies, cash-in-transit or professional cash handlers or sub-contractors.
The US dollar and Euro have a great significance in the international market and will continue to gain more importance in the years to come. The banknotes in circulation have witnessed a significant growth in the recent past in most of the economies in the world. This trend will pressurize the entities involved in the manufacturing of banknotes to maximize the production of the same.
Trying to replicate the monetary union of the Eurozone, ASEAN plus three countries, China, Japan and Korea are working towards introducing a common currency for East Asia.
The companies in the global banknote market operate in a highly competitive environment, with the ability to manufacture superior quality banknotes, ability to develop innovative security features, and circulation being the key factors responsible for competition in the market.
De La Rue plc, Giesecke & Devrient (G&D) Group, Oberthur, Crane Currency, and Fortress Paper Ltd, are the key players in the global arena.
For more information on the global banknote market, see the latest research: Global Banknote Market
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