May-25-2023
India – Informal market develops for soon to be demonetized Rp.2,000 banknotes.
It has been reported that an informal market is developing for large amounts of “pink” 2,000 rupees banknotes (INR2,000.1) owned...
Demonetization
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May-25-2023
Qatar – Latest information on older banknotes redemption confirmation.
There is no conversion of banknotes of the previous series for new banknotes at the Qatar Central Bank. Commercial banks...
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May-24-2023
Qatar – Latest information on older banknotes redemption.
It is reported that the National Bank of Qatar will accept for deposit into accounts up to QAR20,000 in notes...
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May-23-2023
Qatar – Problems with the redemption of older banknotes.
According to an unconfirmed report the Central Bank of Qatar has decided to stop the redemption in person of their...
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May-21-2023
India – No formalities required for banks to exchange up to 10 pieces of 2,000 rupees banknotes.
The Reserve Bank of India instructed all financial institution to exchange without any formality up to 10 withdrawn 2,000 rupees...
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May-19-2023
India – Banknotes of 2,000 rupees to be demonetized soon.
The Reserve Bank of India announced today the withdrawal from circulation of their 2,000 rupees notes (INR2,000.1). These notes remain...
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Mar-13-2023
NIGERIA – Central Bank issues Press Release confirming legal tender status of older notes.
The Central Bank of Nigeria has issued today a Press Release in which it informs that “In compliance with the established...
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Mar-8-2023
NIGERIA – Current status of naira banknotes.
This is the current situation in respect to the old naira banknotes of 500 (NGN500.1) and 1,000 naira (1,000.1.) ...
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Mar-7-2023
NIGERIA – Silence from the Central Bank.
Following last week’s ruling of the Supreme Court ordering all older banknotes to remain in circulation until the end of...
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Mar-3-2023
NIGERIA – Supreme Court orders older banknotes to remain valid until the end of the year.
The Supreme Court ordered today that the banknotes of the previous family will retain legal tender status until the end...
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Feb-28-2023
Central African States – Banknotes of the 1992 Series cease to be legal tender today.
The banknotes of the 1992 Series of 500 francs (XAF500.1) – 1,000 francs (XAF1,000.1) – 2,000 francs (XAF2,000.1) – 5,000...
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Feb-20-2023
Nigeria – Chaos in currency situation.
With Presidential elections slated for this weekend these are some of the things that happened in the last few days...
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Feb-18-2023
Nigeria – Council of State advises Central Bank to print more new notes or recirculate the old ones.
The National Council of States, an organ of the Nigerian Government which has no executive power, but advises on policy...
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Feb-18-2023
Nigeria – Central Bank opens portal for the redemption of old 500 and 1,000 naira banknotes.
The Central Bank of Nigeria has reopened the redemption of previous banknotes of 500 (NGN500.1) and 1,000 naira (NGN1,000.1) through this...
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Feb-16-2023
Nigeria – Old notes of 200 naira continue to be legal tender for 60 days.
In a message to the nation President Buhari decreed that old banknotes of 200 naira (NGN200.1) (=USD 0.26 in the...
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Feb-15-2023
Nigeria – Supreme Court adjourns until 22 February
The Supreme Court decided today to adjourn until next Wednesdays 22 February to decide on the demonetization of the previous...
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Feb-10-2023
Nigeria – Government will comply with Supreme Court injunction.
Abubakar Malami, Attorney General of the Federation, declared today that the Government will comply with the Supreme Court interim suspension...
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Feb-8-2023
Nigeria – Supreme Court suspends demonetization of old banknotes. Political battle ensues.
Yesterday Nigeria’s Supreme Court granted at the request of three State Governors an interim injunction to the demonetization of naira...
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Feb-7-2023
Nigeria – Legal battle over older naira banknotes redemption.
The poor way in which the exchange of old for new naira banknotes has been planned and executed by the...
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Feb-7-2023
Nigeria – Political and legal ramifications of the naira redesign.
The naira redesign operation snafu is getting more complicated. Other than the chaos and suffering caused by the way in...
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Feb-5-2023
Nigeria – State Governors meet President Buhari over cash crisis.
State governors from the All Progressives Congress, the ruling party, have meet yesterday 4 February 2023 with President Muhammadu Buhari...
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Jan-21-2023
Sierra Leone – Old currency still being used.
Old pre-redenomination banknotes are still prevalent in the market. They were originally to be demonetized by end-September 2022. The date...
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Jan-4-2023
Nigeria – Senate urges Central Bank to extend old banknotes withdrawal.
The Nigerian Senate has urged the Central Bank to extend the withdrawal period of previous banknotes of 200; 500 and...
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Jan-2-2023
India – Supreme Court ruled that 2016 demonetization of large banknotes is legal.
By a 4-1 decision the Indian Supreme Court declared today 2 January that the demonetize of older notes of 500...
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Dec-19-2022
Nigeria – New banknotes issued today. Previous ones will be demonetized soon.
The supply of new banknotes received by commercial banks has proven to be insufficient to meet demand, forcing them...
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Dec-15-2022
Nigeria – New banknotes issued today. Previous ones will be demonetized soon.
The banknotes of the new 2022 family started circulation today. Previous notes of 200 naira (NGN200.1), 500 naira (NGN500.1)...
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Dec-10-2022
Nigeria – New banknotes distributed to banks, ready to be issued.
The Central Bank of Nigeria has begun distribution of its new redesigned banknotes to commercial banks on Wednesday. Banks may...
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Nov-1-2022
Nigeria – Black market dollar rate reach 200% of official rate.
At an average of 880 naira per USD the black market rate of the American dollar has surpassed the 200%...
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Oct-29-2022
Nigeria – Finance Ministry not informed in advance of currency replacement.
Zainab Ahmed, Minister for Finance, declared yesterday that the Central Bank of Nigeria did not consult her ministry before taking...
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Oct-28-2022
Nigeria – New banknotes and the value of naira.
The replacement of the old banknotes recently announced, and the short period given for their replacement, are affecting the value...
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Oct-26-2022
Nigeria – New banknotes soon.
Godwin Emefiele, Governor of the Central Bank of Nigeria announced today the imminent issue of new banknotes of 200 naira...
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Oct-26-2022
Pakistan – Old banknotes become worthless at end 2022.
The exchange of old Pakistani notes of 10 rupees (PKR10.1), 50 rupees (PKR50.1), 100 rupees (PKR100.1) and 1,000 rupees (PKR1,000.1)...
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Oct-14-2022
India – Supreme Court will have a hearing about the 2016 demonetization of 500 and 1000 rupees banknotes.
The Supreme Court of India will have on 9 November a hearing about the 2016 demonetization of 500 rupees and...
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Oct-12-2022
Ukraine – Older banknotes to be demonetized in 2023.
All banknotes denominated in Hryvnie issued between 1992 and 2003 are redeemable until 30 September 2023. Source: National Bank of...
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Jul-1-2022
Sierra Leone – ISO 4217 code for the redenominated monetary unit is SLE. Limits for exchanges.
The code for the new redenominated Leone is SLE. One new Leon (SLE) is equal to 1,000 old leones (SLL)...
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Jun-30-2022
Sierra Leone – Redenominated family of banknotes to be issued tomorrow.
According to a Public Notice issued on 16 June 2022 the new redenominated banknotes will start circulating tomorrow 1 July...
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Jun-4-2022
Cuba – Redemption extended for pesos convertibles.
Banknotes denominated in pesos convertibles (CUC) will be redeemable for additional 90 days starting 17 June until 14 September 2022...
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Dec-30-2021
Cuba – Redemption of pesos convertibles ends tomorrow.
Tomorrow is the last day for Cubans to redeem banknotes denominated in “Pesos Convertibles”. First issued in 1994 by Banco...
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Dec-27-2021
Mongolia – CORRECTION – Demonetization of older 20,000 tugruk banknotes.
Only the banknotes of 20,000 tugruk dated 2006 (MNT20,000.1) will be demonetized on 1 March 2022. The banknotes dated...
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Dec-20-2021
Portugal – Escudo banknotes to be demonetized soon.
These Portuguese banknotes will cease to be redeemable by 28 February 2022. PTE500.13 500 escudos 1997-2000 Ch.13 PTE1,000.13 1,000...
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Dec-14-2021
Pakistan – Redemption of older notes extended.
You saw it first here… The Federal Cabinet chaired by Prime Minister Imran Khan approved today 14 November 2021...
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Oct-29-2021
Trinidad and Tobago – Status of paper 50 dollar notes.
As there were doubts about the validity of cotton paper banknotes of 50 dollars (TTD50.2 and TTD50.3) the Bankers Association...
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Sep-19-2021
Argentina – Again more time to redeem 5 pesos banknotes.
The Banco Central de la República Argentina issued on 16 September 2021 its Communication “A” 7366 by which it...
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Jun-24-2021
SPAIN – Banco de España simplified peseta note exchange. It may extend validity.
Banco de España announced that it will stop requiring appointments to exchange peseta notes and coins. Instead it will receive...
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Jun-22-2021
SPAIN – Peseta Banknotes cease to be redeemable at the end of the month.
Banco de España will stop exchanging banknotes and coins denominated in pesetas at the end of the month. The original...
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Jun-16-2021
Cuba – Redemption of pesos convertibles extended.
You saw it first here… According to news published today 16 June 2021 by Granma an Executive Order of...
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Mar-14-2021
South Sudan – Currency replacement.
You saw it first here… According to an article published yesterday by Kenya Wall Street the Bank of South...
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Feb-8-2021
Myanmar – Government denies rumors of demonetization of large bills.
You saw it first here… Rumours and fake news were spread in social media about the demonetization of large...
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Dec-23-2020
Kazakstan – Redemption of some 2006 banknotes extended.
You saw it here first… The National Bank of the Republic of Kazakstan extended the period for redeeming banknotes...
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Dec-11-2020
Cuba – End of pesos convertibles.
Miguel Díaz Canel, Cuba’s president, and Raul Castro, heard of the Cuban Communist Party, announced late yesterday that the...
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Nov-17-2020
Spain – Exchange of peseta banknotes and coins extended for six months.ourt
You saw it here first,,, The Minister Council has decided today to extend the time for the redemption of...