Frequently asked questions
1. Why are new 50-krona and 1,000-krona banknotes being introduced?To reduce the risk of counterfeiting and to make it easier to recognise genuine banknotes, the Riksbank has introduced new 50-krona and 1,000-krona banknotes.2. What will happen to the older versions of the 50-krona and 1,000-krona notes?The older versions will continue to be legal tender.3. When will the new banknotes be introduced?The new banknotes will be legal tender with effect from 15 March 2006 and will gradually be distributed to the banks and the retail trade.4. What are the new security features on the banknotes?Both the 50-krona and 1,000-krona banknotes have been equipped with a foil strip and a see-through picture. In addition, the 1,000-krona note has a new feature known as motion (a moving image in the striped band). The Riksbank is the first central bank in the world to use this type of security feature in banknotes.5. Are counterfeit banknotes a major problem for the Riksbank?There is relatively little counterfeiting of Swedish banknotes seen from an international perspective and over the past five years counterfeiting has been at a relatively low, constant level. The new 50-krona and 1,000-krona banknotes are primarily aimed at preventing potential counterfeiting attempts. 6. How do you ensure that information on the banknotes reaches the general public?The Riksbank considers it very important that those who handle cash in their professions should be informed about the new banknotes, of the reason for their introduction and of the fact that older versions of the banknotes will still be legal tender. The first stage of the information campaign involved providing information to those who handle cash in their work, such as bank staff, Svensk Kassaservice and the retail trade. In addition, a public information film will be shown on Swedish television (SVT), on the Anslagstavlan programme, and other contacts will be taken with the media. The purpose of the media contacts is to reach groups that may have difficulty in assimilating traditional information, such as immigrants, pensioners and those with a disability. Young people are also an important target group. 7. Where can I obtain more information on the new banknotes?More information is available on the Riksbank’s website, www.riksbank.se, under the heading “Notes & coins”. 8. Why is it the Riksbank that provides information on new banknotes?The Riksbank is Sweden’s central bank and an authority under the Riksdag, the Swedish parliament. The Riksbank’s main tasks are to maintain price stability, i.e. to ensure that money retains its value by keeping inflation at a low, stable rate, and to promote an efficient payment system, i.e. ensure that payments in Sweden are made safely and efficiently.As the Riksbank has a monopoly on issuing money, it has the task of informing the general public when any changes are made in Swedish banknotes and coins. 9. Who decides on the appearance of banknotes and coins?The Riksbank’s monopoly on issuing money also includes the task of determining the appearance of banknotes and coins. Decisions on these issues are made by the General Council of the Riksbank, which is elected by parliament for a period of office of four years.