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. “Introducing the changes in our currency notes was deemed necessary to salvage the country’s fractured economy,” Ahmed said. Local banks were instructed to immediately begin issuing new notes, which are also touted to have greater longevity than the old ones. The new and old notes will remain in circulation for three months but the notes of 10, 50 and 100 denominations will stand canceled thereafter.

Source: Ethiopian News September 14, 2020 12:45 UTC