Monday, September 28, 2020
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Ethiopia Unveils New Currency Notes

Addis Ababa, Ethiopia today unveiled new currency notes reinstating the existing Birr note, according to Office of the Prime Minister. 

The office announced that the new currency notes include Birr 10, 50 and 100 denominations, with an additional introduction of a new 200 Birr note.

The move will help to curb illicit money transfer, counterfeit and contrabands, the office indicated.

Enhanced security features on the new notes aimed at making them more difficult to counterfeit, it was learned.

Recently, the National Bank of Ethiopia (NBE) issued a new directive that bans persons and companies from keeping over 1.5 million Birr in cash out of banks.

The objectives of the directive are to prevent illegal money circulation and strengthen legal transaction as well as protect notes from damage, among others.  

According to the bank anyone who deposits more than the stated amount of money anywhere out of banks will be accountable and punished as per the regulation.

Source: ENA

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