National Bank resumes changing old banknotes in Tigray

Addis Ababa, December 30, 2020 (FBC) –The National Bank of Ethiopia (NBE) has resumed changing old banknotes with the new ones in Tigray regional state.

The bank suspended changing the old currencies in Tigray due to the law enforcement operations carried out in the regional state.

As of today, residents can change their old currencies for the coming 14 days, including on Saturday and Sunday, said NBE in statement sent to FBC.

As the deadline to change old banknotes for an amount of 100,000 -1.5 million birr was over before the start of the operation, those who have that amount will not benefit from the services resumed today, it said.

However, those who have an amount of less than 100, 000 birr can change their old banknotes by visiting nearby banks, the statement added.

NBE urged banks to strictly follow the directives and procedures issued for changing old currencies.

Ethiopia introduced new currency notes, with enhanced security features and other distinctive elements last September.

The new currency notes replaced the 10, 50 and 100 birr notes while an additional 200 birr note was introduced. The 5 birr note remained unchanged and will be turned into coin format.