Central Banks and Cash Round-Up

The focus for this month’s summary of news from central bank annual reports and other sources are Mozambique, South Africa, and the UK.

Banco de Moçambique (BoM)

The Banco de Moçambique (BoM) spent 3.512 billion meticais (€46.9 million) on producing new banknotes and coins in 2024, following the launch of a new series.

This marked an increase from 3.292 billion meticais (€44 million) in 2023, according to media sources.

BoM ended 2024 with nearly 85.337 billion meticais in circulation, equivalent to €1.140 billion, compared to 80.456 billion meticais (c. €1.075 billion) in December 2023. The central bank also reported that it destroyed 8.762 billion meticais (€117.1 million) worth of notes and coins in the same period.

South African Reserve Bank (SARB)

SARB operates through four subsidiaries: the South African Bank Note Company (SABN) and the South African Mint (together with its subsidiary Prestige Bullion), responsible for producing currency; the Corporation for Deposit Insurance, which manages the country’s Deposit Insurance Fund; and the Corporation for Public Deposits, which provides investment services.