Reported 12 months ago
Japan has introduced newly designed banknotes for the first time since 2004, aiming to provide a small economic boost and potentially encourage cash hoarders to invest their money rather than keep it hidden. The new ¥10,000 bills feature a portrait of Eiichi Shibusawa, the father of Japanese capitalism. Despite the trend towards cashless payments, officials emphasize the enduring importance of paper money. Cashless transactions in Japan have been steadily increasing, but the introduction of the new banknotes is expected to positively impact the economy and push up GDP by around a quarter percentage point.
Source: YAHOO