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Defaced, torn Afghani Banknotes Not Exchangeable After Two Months: CB

(Last Updated On: June 27, 2017 3:17 pm)

Central Bank (Da Afghanistan Bank) says the confiscation process of defaced and torn banknotes is ongoing and there after two months the notes would not be exchangeable.

Months ago, Central Bank has set Hamal of 1396 (March 22, 2017)  as the deadline for the exchange of defaced or torn banknotes but later it was extended to  the end of Asad ( August 22), following the officials claimed of unawareness of the people from the decision.

“Our staff is engaged in teaching and promoting the culture of protecting the banknotes at schools and universities in capital and other provinces,” said Central Bank Spokesman, Aimal Hashor.”All citizens should properly keep their banknotes and prevent the notes from becoming defaced or torn.”  

Central Bank has confiscated about 128 million Afghani banknotes so far; however, the Kabul Sarai-e-Shahzada Money Changers’ Union warned that the process would cause Afghan currency to lose its value in the markets.  

“Central Bank should make efforts to prevent the banknotes of becoming defaced or torn. The Bank should replace the notes through all its branches,” the Spokesman of Sarai-e-Shahzada Money Changers’ Union, Haji Zerak said.

lack of quality in paper used for banknotes and poor culture to protect the notes from getting damaged are the main reasons that force Central Bank to destroy billions worth banknotes every year, according to economic experts.

Some economic experts believe Central Bank should rise awareness of the people on the matter in order to protect the banknotes from becoming defaced and torn.

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