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Johannesburg - The SA Reserve Bank (Sarb) said on Monday that there is no problem with R100 or any other notes in circulation.
"The Sarb has the utmost confidence in the South African currency and the currency is produced consistently in accordance with the highest international security standards," said spokesperson Hlengani Mathebula.
This followed a weekend media report stating that the Sarb had outsourced the printing of R8m in R100 notes to a Swedish company - as hundreds of employees at its Pretoria banknote-making company sat idle.
"The move follows the discovery in May last year that a key security feature was missing from the R100 notes being printed by the SA Bank Note Company (SABN). The mistake - which was found in notes dating back as far as 2003 - was due to a fault in one of SABN's machines," the report said.
The banknote-printing company is a wholly owned subsidiary of the Sarb.
"The Sarb has the utmost confidence in the South African currency and the currency is produced consistently in accordance with the highest international security standards," said spokesperson Hlengani Mathebula.
This followed a weekend media report stating that the Sarb had outsourced the printing of R8m in R100 notes to a Swedish company - as hundreds of employees at its Pretoria banknote-making company sat idle.
"The move follows the discovery in May last year that a key security feature was missing from the R100 notes being printed by the SA Bank Note Company (SABN). The mistake - which was found in notes dating back as far as 2003 - was due to a fault in one of SABN's machines," the report said.
The banknote-printing company is a wholly owned subsidiary of the Sarb.
