South African rand due to relatively high-quality counterfeit notes in circulation. In 2011, the South African Reserve Bank issued 100-Rand banknotes which were defective because they lacked fluorescent printing visible under UV light. In June, printing of this denomination was moved from the South African Bank Note Company to Crane Currency's Swedish division (Tumba Bruk), which reportedly produced 80 million 100-Rand notes. The South African Reserve Bank shredded 3.6 million 100-Rand banknotes printed by Crane Currency because they had the same serial numbers as a batch printed by the South African Bank Note Company. In addition, the notes printed in Sweden were not
Currency manipulator a currency manipulator is by creating public opinion via for example news media. This comes from mostly political reasons or from lobbying activities for organizations with interest in manufacturing industries. The manufacturing industry is most heavily affected when one of the nation’s important trade countries manipulated their currency. Products from that country will be more competitive than from their own nation, which causes a shift of manufacturing to that foreign country. Therefore, lobbyists of the U.S. manufacturing sector are often “bashing” China as a currency manipulator. Evidence for this proposition can be found in an analysis of Ramirez (2013), who