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The issuing of banknotes in Northern Ireland is regulated by the Currency and Bank Notes Act 1928, the Coinage Act 1971, Banknotes (Ireland) Act 1864 (c. 78), Banknotes (Ireland) Act 1920 (c. 24), Bankers (Ireland) Act 1845, Bankers (Northern Ireland) Act 1928 (c. 15), among others.
These issues have been issued since the United Kingdom of Great Britain and Northern Ireland changed over to decimal currency on 15 February 1971. The obverse side of Bank of Ireland banknotes features the Bank of Ireland logo, below which is a line of heraldic shields each representing one of the six counties of Northern Ireland.
The official currency in use in Northern Ireland is the British pound sterling. The euro, in use in the Republic of Ireland, is also accepted by some retailers. Four Northern Irish banks print their own sterling-denominated banknotes: Bank of Ireland, First Trust Bank, Danske Bank, and Ulster Bank. The central bank of the UK is the Bank of England.
The weakness of the paper currency in Ireland lead to pressure for the creation of a ‘National Bank’ to provide a stable currency. Eventually, the Bank of Ireland was created to fill this need. The Bank of Ireland was the first joint stock bank to produce notes intended for use throughout Ireland; its first issue was in 1783. [2]
Northern Ireland; Local, privately-issued sterling banknotes. Issued under a licence of the Bank of England to four retail banks : Bank of Ireland, First Trust Bank, Danske Bank (formerly Northern Bank) and Ulster Bank. [1] Jersey; Jersey pound (local, government-issued sterling banknotes and coins)
All de facto present currencies in Europe, and an incomplete list of the preceding currency, are listed here. In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2]
Issued by Scottish and Northern-Irish banks only. £1,000,000 note: £1,000,000: non-circulating Also known as a "Giant". Used as backing for banknotes issued by Scottish and Northern Irish banks when exceeding the value of their 1845 reserves. The amount to be covered is over a billion pounds. [12]
Rivers in both the Irish Free State and Northern Ireland were chosen. [2] The Currency Commission notes were printed with Currency Commission/Coimisiún Airgid Reatha and Irish Free State/Saorstát Éireann with facsimiles of the signatures of the Chairman of the Currency Commission/Cathaoirleach Choimisiúin an Airgid Reatha and of the ...