TOKYO — Japan issued its first new banknotes in two decades Wednesday, yen packed with 3-D hologram technology to fight counterfeiting.
While the new bills were released with fanfare, currency already in use will remain valid. In fact, people will still need older bills to use most vending machines and to pay bus fares, local media reported.Kishida noted the people featured on the bills celebrate Japanese capitalism, women’s equality and scientific innovation.
The backs of each of the bills feature Tokyo Station, wisteria flowers and ukiyo-e artist Katsushika Hokusai’s Mount Fuji, respectively. It may take some time for ordinary people to get hold of the new bills. They first are going to banks and other financial organizations. Then, they'll be distributed to automatic teller machines and stores, according to the Bank of Japan.A majority of transactions in Japan still are done in cash and cashless payments have been slower to catch on than in many other countries.
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