Eritrea new currency reported
Nov 05, 2015 09:03 AM Category: Africa
According to Legal Notice No. 124/2015 dated 4 November 2015, the Bank of Eritrea plans to replace its currently circulating banknotes at par for a new series of notes. Although it has not yet announced when the change will take place, the currency redemption process will last six weeks. During the first two weeks, individuals and entities may deposit any amount of money in their accounts, but during the last four weeks, deposits and exchanges will be limited to 20,000 nakfa. After six weeks, the old nakfa notes will be demonetized.
Courtesy of Simon G. Tewolde.