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New 5 Euro Bill Unveiled

By: RTV/Handout/CBS
By: RTV/Handout/CBS

The new five euro bank note is "state of the art in terms of security and technology," the president of the European Central Bank (ECB), Mario Draghi said during an unveiling ceremony in Frankfurt on Thursday (January 10).

"The Europa series will be smarter and even more secure than the current series," Draghi said.

The new bank note is the first of a series of new bills which Draghi said would "gradually replace the first series of euro bank notes which was introduced on January 1st, 2002."

The ceremony at Frankfurt's archaeological museum was attended by some 200 dignitaries.

At Frankfurt's stock exchange, one trader predicted that the ECB would further cut the already record low interest rate of currently 0.75 percent.

"If that happens, it will be because the euro is getting too strong," Robert Halver of Baader bank said, adding "people want a weak currency in order to push exports in the euro zone."

At 6:30 p.m. (1230 EST), the euro traded at 1.32 against the U.S. dollar.


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