A new 10 Euro bill was presented by the European Central Bank in the city of Frankfurt, Germany. This bank note became the second in the set entitled, Europe. The image of a Phoenician princess of Europe was used for its design. We should note that the first bank note from this set was the 5 Euro note, which was introduced in January of last year, as informed by experts of the Binary Options Broker Optionova.
The image of the ancient princess can be seen on the watermark spot of the note, all you have to do is put the bill up to a source of light to see it. A similar image in the form of a hologram is placed on the special ribbon that crosses the right edge of the bank note.
The new note will come into circulation on the 23rd of September. The website of the European Central Bank shows in better detail all the changes that the bill will have. It should also be noted that the new bills will be used along with the old ones; however, the previous bank notes will be replaced by the new notes. In addition, the main advantage of a new bank note is an increased strength and as a result it will be in circulation during more time than the old one. That will allow the ECB to save money on printing new notes to replace the old ones.
One of the main reasons for introducing a new 10 Euro note with better security features is the fact that counterfeiters have already found the way to counterfeit these bills and make them almost as good as the real ones. In Europe, 317 thousand Euros of fake money has been withdrawn from circulation from January to June of last year. The experts of the Binary Options Broker Optionova said that the European Central Bank Board members noted that it is important to maintain confidence in the Euro among the people. According to the board, the main goal of the new bank notes is to keep the trust in the Euro among its people and abroad.
You can verify if a 10 Euro note is real or fake by following the touch, look and feel procedure. Some of the images on the Euro bank notes are prominent, if you turn them to the light. In the window you can see a picture of Europe that will change color from emerald-green to dark blue, when you tilt it.
The counterfeiting of Euros can give a great blow to the European Economy if it is not kept in check. Different EU countries have arrested people with false Euro bank notes. During an operation to bring down an illegal printing shop, law enforcement officers confiscated about 9 million of false Euro bank notes and detained 13 suspects at once. Euro bank notes went to EU countries. In the illegal printing shop, false bank notes of 100 Euros were produced. The false bank notes were of a very high quality and it was difficult to distinguish them from the real ones. They also found a plate for counterfeiting dollars.
In the meantime, the current Euro exchange rate to the Dollar is at 1.3658, as noticed by the analysts of Binary Options Broker Optionova, which is rated among the TOP Binary Option Brokers at the Masterforex-V World Academy.
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The experts on currency security will continue advising the European Central Bank on safety features for their notes to keep the Euro in the public’s good view, even though intrinsic value of the currency itself is under pressure by some issues in Europe. For instance, the Prime Minister of Spain , Luis de Ginos announced that domestic banks will probably have to write off about 65 billion Dollars of defaulted loans, mostly for real estate debts, because the price of properties has decreased a lot. Additionally, countries like Greece, Ireland and Portugal had to ask for international assistance, in the middle of a possible pullback for the Euro Zone.