Ethiopia: NBE Announces Embassies' Readiness to Change Old Banknotes

The National Bank of Ethiopia said that Ethiopian foreign missions will start changing old banknotes with the new ones to address the demands of citizens working overseas.

Briefing journalists yesterday, NBE's Deputy Governor Solomon Desta said that the new notes change is being carried out efficiently; and so far, the Bank has distributed over 90 billion Birr.

Currently, over five thousand ATM machines are functional and distributing the new banknotes.131 more are ready to operate.

Over six thousand branches throughout the country are partaking in the effort and now the Ethiopian embassies are given green light to commence the new banknote change. The currency change in Djibouti will be supervised by a command post, he added.

As to him, the change aims at collecting the banknotes circulating informally, outside financial institutions; curbing corruption and contraband and supporting financial institutions which confront currency shortage.

If anyone comes across activities that are contrary to Bank's rules and regulations he/she should inform security forces or the Bank.

The schedule is running in a healthy fashion as the financial institutions are working in collaboration with the NBE.

National Bank Currency Management, Directorate Director, Abebe Senbete for his part said the new banknote has its own distinctive elements that cannot be duplicated or copied.

More From: Ethiopian Herald

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