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NBE calls on public to change old banknotes before deadline

Addis Ababa, October 13, 2020 (FBC) -The National Bank of Ethiopia (NBE) has called on the public to change the old banknotes with the new one in the remaining days.

According to the bank, October 16 is the deadline to change old banknotes for an amount of 100,000 -1.5 million birr.

In a press conference issued this afternoon, Solomon Desta, NBE’s Deputy Governor advised the people to use the deadline to change old banknotes by visiting nearby banks in the remaining three days.

Solomon said the bank has so far distributed 90.4 billion birr new banknotes to commercial banks, while collecting 74.9 billion birr old notes since the introduction of the new currency notes.

More than 273,000 customers opened new saving accounts and deposited 13.5 billion birr, he said.

Ethiopia introduced new banknotes, with enhanced security features and other distinctive elements, last month.

The new currency notes replaced the 10, 50 and 100 birr notes while an additional 200 birr note has also been unveiled.

The 5 birr note remained unchanged and will be turned into coin format soon.

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