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Liberia to introduce new banknotes

Banknotes, NewsBy SMI 28/07/2016

The Central Bank of Liberia has announced that it will soon issue a new series of banknotes. The statement available from the Central Bank of Liberia’s website confirms that, in keeping with its statutory mandate to at all times ensure that the integrity of the Liberian Dollar is uncompromisingly maintained, a new series of banknotes will soon…

Parallel Libya Central Bank issues alternative notes

Banknotes, NewsBy SMI 03/06/2016

The Central Bank of Libya of the country’s eastern government has issued new 20- and 50- dinar banknotes. The new 20- and 50- dinar banknote denominations were issued on 1 June 2016 and were reportedly printed in Russia, presumably by the Russian state banknote printers, Goznak. The new notes are similar in design and size to the existing banknotes…

IMF helps Somalia with currency reform

Banknotes, Currency, NewsBy SMI 01/06/2016

Somalia is working with the International Monetary Fund (IMF) to reform its national currency, with the aim of restoring the credibility of the Somali shilling by issuing a new SOS 1,000 banknote. A report produced by the IMF highlights the problems found within the African country, where 95 percent of the currency in circulation is the US…

Egypt printing one pound banknotes for Ramadan

Banknotes, NewsBy SMI 27/05/2016

According to Egyptian newspaper Egypt Independent, the Central Bank of Egypt (CBE) is to start printing 500 million one pound banknotes with the aim of issuing them by the start of Ramadan (7 June 2016). According to prominent banking sources within the country, printing of the one pound banknote was stopped in favour of the equivalent one…

Zimbabwe cash shortage forces Reserve Bank to take action

Banknotes, Currency, NewsBy SMI 05/05/2016

Zimbabwe is suffering from a shortage of cash in the form of US dollars, the main accepted currency in the country since it abandoned its own in 2009 following sustained hyperinflation. A press release issued yesterday by the Governor of the Reserve Bank of Zimbabwe, DR. J.P. Mangudya, has highlighted the Zimbabwe cash shortage, and…

BCEAO confirms there is no new banknote

Banknotes, NewsBy SMI 11/04/2016

Since the 1 April 2016 there have been several reports published by local online news agencies that a new 50,000 West African franc banknote will be issued into circulation from the 30 April. Included in the reports is an image depicting how the note will look. However, a statement has been issued by the BCEAO (the Banque Centrale des Etats de…

Lesotho to issue new M200 banknote

Banknotes, Currency, NewsBy SMI 25/02/2016

According to African news agency StarAfrica, the Central Bank of Lesotho has revealed that it will be launching a new M200 banknote in April this year as part of the current series of banknotes launched in 2010 featuring three generations of the Basotho kings. “The old M200 banknote featuring the portrait of the founding father of…

Burundi Issues New Banknotes

Banknotes, NewsBy SMI 04/05/2015

On the 29th April 2015, the Bank of the Republic of Burundi (BRB), the country’s Central Bank, launched a new series of banknotes consisting of BIF 500, BIF 2000, BIF 5,000 and BIF 10,000 notes. The paper notes are designed using bright colours, different to the design of the denominations before them: the 500 is…

Mauritania issues new Guardian® polymer banknote

Banknotes, NewsBy SMI 05/12/2014

Innovia Security have issued a statement advising that the Central Bank of Mauritania has issued its new 1000 Ouguiya banknote printed on Guardian® polymer substrate. Guardian® is now used in 78 banknote denominations, by 24 countries. The Central Bank has reduced the size of the 1000 Ouguiya banknote to 142mm by 70mm which, it says,…

Rwandans advised to use less cash

Banknotes, Coin, Currency, NewsBy SMI 05/12/2014

According to an article by the Rwandan news agency The New Times, Rwandans have been advised to use less cash in their daily transactions to help minimise banknote wear and tear. John Rwangombwa, Governor of the National Bank of Rwanda, is promoting the use of cashless payment methods, such as electronic cards, and mobile phone…