Ethiopian government unveils new currency notes

Ethiopian government unveils new currency notes

By  David Ochieng Mbewa

Ethiopians have a three-month window within which they will be able to exchange old currency notes for new ones from the banks after the government demonetized its currency.

Ethiopia on Monday unveiled new Birr notes for 10, 50 and 100 denominations, in addition to introducing a new Birr 200 note.

According to Prime Minister Abiy Ahmed, the new notes will “curb financing of illegal activities, corruption and contraband.”

Ahmed added that enhanced security features on the new notes will also cease counterfeit production.

Ahmed said this was a necessary action to take to prop up the economy which, like several others, has also been battered by the effects of the coronavirus pandemic.

“Introducing the changes in our currency notes was deemed necessary to salvage the country’s fractured economy,” Ahmed said.

Local banks were instructe

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