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Since its establishment in 1968, the Central
Bank of Malta assumed the responsibility for the issue and
control of currency notes and coins in Malta. The first
series of Maltese currency notes was issued by the Central
Bank of Malta in September 1969. Throughout these years
the Central Bank of Malta issued various series of notes
with the latest series, the fifth, being issued in September
1989.
On 16 May 1972, the Central Bank of Malta issued
its first series of decimal coinage. Prior to this date
Malta still used British coins. The first Maltese decimal
coins consisted of the 50 cent, 10 cent, 5 cent, 2 cent,
1 cent, 5 mils, 3 mils and 2 mils coins. Subsequently the
25 cent coin and the Lm1 coin were introduced.
With the introduction of the euro in Malta on 1
January 2008, the Central Bank of Malta became
responsible for the issuance of euro banknotes in accordance
with the
principles and rules established within the Eurosystem.
With the approval of the Eurosystem, the Bank issues
euro banknotes in Malta and is responsible for ensuring
the quality
and authenticity of the banknotes in circulation.
The Bank houses a Currency Surveillance Unit which analyses
every
banknote that is suspect to be counterfeit.
Care is taken to ensure that the denominations
in circulation reflect demand. Notes that are unfit
for circulation are regularly withdrawn and destroyed, and
replaced with
new notes.
The Central Bank of Malta also issues euro coins
in Malta on behalf of the Government of Malta. The volume
of euro coins issued is subject to prior approval by the
European Central Bank in terms of Article 128 of the Treaty on the Functioning of the European Union.
Malti
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