Algeria replaces all circulating banknotes in 2018

The Banque d'Algérie has announced that by the end of 2018 all currently circulating banknotes will be replaced by a whole new series. 

The new notes will have no pictures of animals and will be printed on a better (probably hybrid) substrate and have advanced security features. This measure will allow the authorities to recover the money supply in the informal market, which is the cause of the lack of liquidity in the banks, which has forced the authorities to switch to non-conventional financing.

The government plans to replace current notes in a gradual fashion, issuing first the denominations of 200 and 500 dinars. If no problems arise, it will continue with the notes of 1,000 and 2,000 dinars before the end of 2018.

Update 26-01-2018: However, ObservAlgerie.com reports that the Central Bank will replace the 500-dinar note with a coin. They also state that the possibility of a new 5,000-dinar banknote is being discussed. 

the tickets currently in circulation will be withdrawn and replaced at the end of the year 2018. According to Ennahar, there will be no pictures of the animals on the new, this would even be the reason for the withdrawal of the current tickets.

This measure, decided by Ahmed Ouyahia's executive, will allow the authorities to recover the money supply in the informal market, which is the cause of the lack of liquidity in the banks, which has forced the authorities to switch to non-conventional financing.

Steven Friday 05 January 2018 at 1:49 pm | | news
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