According to unconfirmed reports it is most likely that the old 1,000 shilling banknotes (KES1,000.1A/B/C and KES1,000.2A/B/C) will become worthless by October 1st.
The following scenarios are also possible:
- The date may be extended by the Central Bank of Kenya if the redemption process cannot be finished by October 1st,
- A court orders the Central Bank to rescind the demonetization, to extend the time for the exchange, or to make these notes redeemable without time limit.
(George Azuma contributed to this post.)
Click here to order the MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™
*** Do you want to share your comments, corrections or news? Please contact firstname.lastname@example.org
©2019 MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™
« More posts