Where is money printed in the uk

Management matters, and will matter even more in the next few months. The directors warn that if the revival plan put in place by newish chief executive Clive Vacher does not yield results, there is a threat to the company being able to continue as a going concern.

In plain English, that means it will have to find more money, either by renegotiating the terms of its bank loans or by asking shareholders to stump up more cash. Why countries print money outside their borders. Banknote firm to cut jobs. UK confirms passport deal with Gemalto. Image source, Reuters. What is De la Rue? Read more. Related Topics. Published 27 September British company De La Rue, which lost out on a contract to print the new blue UK passport this year, is the largest banknote manufacturing company worldwide.

It produces cash for about central banks. Every week it produces enough notes that if stacked up would reach the peak of Everest twice. Although it's a big business, it's a somewhat secretive business too. The BBC contacted a number of money manufacturers, all of which refused to disclose exactly which central banks they produce money for.

Many governments don't like to talk about it either. It's perhaps understandable given the anger in India, which shows the sensitivities that some people have about where their currencies are printed.

The companies involved in printing notes have been in existence for a few hundred years. They have specialist technology and developed credibility on security. De La Rue began producing banknotes in , first for Mauritius and then elsewhere.

It manufactures the new polymer Bank of England fivers and tenners. For smaller countries it can make a lot of sense to outsource production. It may not be worth purchasing expensive presses if they only need a small number of notes. It would also require keeping up with fast-moving technological advances to prevent counterfeiting.

A banknote printer produces about one to 1. So if a central bank produces less than that it's not really worth it financially. The US prints approximately seven billion notes per year. The small pacific nation Solomon Islands, which has a population of ,, has its currency designed and printed by De La Rue. Other publicly available information shows that Macedonia and Botswana also outsource to the British company. Many concerns in India were based on national security issues, especially as the country is currently engaged in a border dispute with China.

A striking example is Libya in The Reveller. The Optimist. ES Best. ES Mag. Follow us:. Password Please enter a valid password.