If the Central Bank of Kenya does not extend it, September 30 is the last day to redeem the old banknotes of 1,000 shillings (KES1,000.1 and KES1,000.2).
The conditions set by the Central Bank are unusual. Instead of deciding a given date for the end of legal tender status, and a further one for redemption, both happen at the same time. Since merchants cannot be sure that they may be able to deposit these notes to their bank accounts before these are demonetized, it has been reported that many are refusing to accept them.
Click here to order the MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™
*** Do you want to share your comments, corrections or news? Please contact info@mriguide.com
©2019 MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™
« More posts