In a new commentary, the Central Bank of Latvia outlined the steps toward issuing the next generation of euro banknotes following a public survey involving almost 10 million people, including 37,137 in Latvia. The European Central Bank Governing Council is expected to select a proposal by year-end from designs developed under the themes “European culture” and “Rivers and birds.” No decisions have been taken on the timing or technical arrangements for introducing the banknotes. Once selected, the design will be adapted to incorporate advanced security features and tactile and color elements for blind and partially sighted users. Preparations will also require cash-handler training, public information, and the reprogramming of vending machines and counterfeit-detection equipment. The Central Bank of Latvia expects a gradual rollout and said existing banknotes will remain legal tender indefinitely, meaning people and businesses will not need to exchange them.
Central Bank of Latvia outlines path to new euro banknotes as ECB prepares year-end design choice
The Central Bank of Latvia outlined the path to new euro banknotes, with the ECB Governing Council expected to choose a design by year-end. The selected design will undergo security and accessibility development before a gradual rollout, for which no timetable has been set. Existing banknotes will remain legal tender indefinitely.