Titans are known to be powerful gods in Greek mythology. In the real world, this story holds. The Titan banknote, known by that name because of its expressive value, is issued by the Bank of England. Follow the reading of this article in its entirety and learn more about the British banknote worth R$730 million.
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The value, of 100 million pounds sterling, is equivalent at current exchange rates to around R$730 million. The nickname Titã is justified by the dimensions of the ballot, printed on a sheet of paper in A4 format, the same as the pages of school books and official sheets. Such value also justifies the protection of the gods.
The Titan banknote is kept in the vault of the Bank of England, located in London. In the same vault are also kept safely the banknotes of 1 million pounds sterling, nicknamed Gigantes.
Why grades with such high value?
The government authorizes the issuance of these high-value banknotes to help regulate the economy. Thus, titan and giant banknotes should not circulate freely in the United Kingdom.
The justification is to maintain the exchange rate of the pound sterling, after all, Scotland and Northern Ireland issue their own currencies, although they are part of the United Kingdom. Thus, the objective is to deposit banknote values produced in the banks of these locations with the equivalent of the pound sterling in the Bank of England.
How it works with other banks in the world, such as the International Monetary Fund, the deposit of Scottish and Northern Irish securities at the Bank of England is to provide a security ballast, in case there is a crisis or closure of the issuing bank of the notes in these two countries.
It is for this reason that banknotes are valued so highly. As it is necessary to ensure the ballast, it would not be possible to keep millions of low value notes kept in the bank vault.
Thus, the titan banknotes and giant banknotes were born, created since the beginning of the 20th century, in 1908, and which still function today as safe ballast for the pound sterling.
It is estimated that there are just over four thousand banknotes, divided between titans and giants, in the bank's vault, with an approximate value of eight billion pounds, equivalent to R$58 billion.
If you are curious and want to see one of these bills, you can see the note at the Banco da England, in which there is a Giant with the signature of the then Queen of the United Kingdom, Elizabeth II, dated from 2012.
