JAPAN HAS NEW BANKNOTES-CAN I STILL USE THE OLD ONES?

(SPOT.ph) Japan has begun the rollout of newly designed banknotes for ¥1,000, ¥5,000, and ¥10,000, marking the first major redesign in 20 years.

Many tourists such as yourself might be wondering what happens to the old banknotes—and more importantly, if they can still be used in future travels.

Can I still use old Japan money?

According to the Bank of Japan and the Ministry of Finance, the current series of banknotes will remain valid even after the new series is issued. This means that you can continue to use the old banknotes without any issues.

"Please be cautious of fraudulent activities claiming that the current notes will become invalid," Bank of Japan said.

To support these changes, the Bank of Japan said that "financial institutions have been adapting their machines to the new series of Bank of Japan notes as planned…expected to be mostly completed by the end of June 2024." As such, there is no requirement to exchange the old banknotes for new ones.

Those who still wish to exchange old notes for new ones can head over to the Bank of Japan.

The old notes will gradually be phased out of circulation through normal banking processes as they wear out or are deposited back into banks. 

Also read: Heads Up: Japan Is Revising Visa Requirements Starting This June

Why is Japan changing banknotes?

Considerable time has passed since the Bank of Japan issued new banknotes, which prompted them to update the currency to incorporate advanced security features and modern design elements.

Specifically, the new banknotes for ¥1,000, ¥5,000, and ¥10,000 now feature prominent historical figures like Eiichi Shibusawa, Tsuda Umeko, Kitasato Shibasaburō, along with three-dimensional holograms to prevent counterfeiting.

Additionally, Japan has adopted universal design principles to make the new banknotes easier for the visually impaired to use with 11 diagonal lines serving as tactile marks.

Also read: Fly to Over 30 Japanese Cities for Less With These Tourist-Only Passes

2024-07-05T12:12:49Z dg43tfdfdgfd