On 19 March 2012 an updated version of the Faroese banknote series with new security features is put in circulation. The motifs are still the well known Faroese animals and Faroese landscapes.
The common motif on the notes depicts Faroese animals. On the face of the notes the animals are shown as fragments. On the reverse, watercolours of Faroese landscapes by the Faroese artist Zacharias Heinesen (b. 1936) are reproduced. The fauna motifs contribute life and variation to the notes, while the watercolours lend a special quality of lightness.
New security features
The Faroese banknote series is upgraded using the most advanced security feature on the market, that is the window thread with a moving wave pattern. Simultaneously the hologram has been superseded by the banknotes face- and reverse-symbols. On the reverse of the note a mother-of-pearl thread and fluorescent colour is added. Up to now there has not been any counterfeiting of Faroese banknotes and with the upgrade of the Faroese banknotes with new security features the aim is to keep it that way.
All banknotes are of the same height
The banknotes are of the same height, but vary in length by 1 cm between each denomination.
Old banknotes are still legal tender
The old banknotes remain legal tender, but will gradually be withdrawn from circulation.
The printing of Faroese banknotes is done according to the law governing banknotes in the Faroe Islands (from 1949). Pursuant to the law Danmarks Nationalbank must produce special Faroese banknotes carrying Faroese text. However, the denominations and the formats of the banknotes shall be the same as the banknotes that are put in circulation in Denmark.
The currency in the Faroe Islands is 1 krˇna and the exchange rate to the Danish banknotes is 1:1. The Faroese banknotes are regarded as a foreign currency in Denmark thus they are not legal tender in Denmark, nor are Danish banknotes legal tender in the Faroe Islands. However, Faroese banknotes can be encashed to Danish banknotes free of charge at Danmarks Nationalbank in the same way as Danish banknotes can be encashed to Faroese banknotes in the Faroe Islands.The coins in the Faroe Islands and in Denmark are the same.
Last update: 07/17/2012
In 1951 Faroese banknotes were printed in Danmarks Nationalbank for the first time.