Wednesday marked the debut of Japan’s redesigned ¥10,000, ¥5,000 and ¥1,000 banknotes into circulation, which incorporate some of the world’s leading anti-counterfeiting technology and feature historical figures.
The Bank of Japan expects to introduce a total of ¥1.6 trillion ($9.9 billion) worth of new banknotes into circulation on Wednesday alone, Gov. Kazuo Ueda said at a ceremony held at the central bank’s Currency Issue Department on Wednesday morning.
“Although cashless transactions are advancing, cash remains a reliable means of payment that can be used by anyone, anytime and anywhere,” he said, adding that he hopes the new banknotes will serve as a “lubricant” supporting the nation’s economy.