Bank of Central African States to launch new banknotes, coins by mid-December


  • World
  • Thursday, 10 Nov 2022

YAOUNDE, Nov. 9 (Xinhua) -- The Bank of Central African States (BEAC) will put new banknotes and coins in circulation by Dec. 15, according to a statement released Wednesday by the Ministerial Committee of the Central African Monetary Union.

The 1992 and 2002 banknotes, meanwhile, will gradually be withdrawn from circulation starting from next year in the region that groups the countries of Cameroon, Chad, the Central African Republic, Equatorial Guinea, Gabon, and the Republic of Congo, said the statement.

In Central Africa, the renewal of banknotes and coins takes place in principle every ten years.

The BEAC is expected to unveil the new banknotes when it celebrates its golden jubilee in the Chadian capital of N'Djamena by the end of this month.

The banknotes to be replaced with new ones include 500, 1,000, 2,000, 5,000 and 10,000.

The announcement came as Central African states are battling an inflationary crisis, which is affecting most African economies.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Civilians suffering horrendous violence in Sudan conflict, MSF says
Mark Zuckerberg’s metaverse adventure may finally be running out of cash
Netflix is phasing out its cheapest advertising-free plan; US, France latest to be affected
Analysis-Nuclear wildcard reignites Australia's climate wars
Bangladesh students to keep up protests despite scrapping of most quotas
On Biden, the Kremlin says the Ukraine war is more important
How a faulty CrowdStrike update crashed computers around the world
A risky trade-off made CrowdStrike’s outage so devastating – cybersecurity leaders say there’s no easy fix
Russia's Tuapse oil refinery damaged in Ukraine drone attack, Russian officials say
Employee embezzles US$300,000 from US church to send gifts to TikTokers, feds say

Others Also Read