The National Bank of Ethiopia (file)borkenaDecember 30, 2020Tigray region of Ethiopia is getting fourteen days of extension to change old banknotes, the National Bank of Ethiopia on Wednesday announced in a statement sent to state media Fana Broadcasting Corporate (FBC). All regulations introduced during the banknote change will be implemented in the course of collecting old notes, the Bank also announced. Banks in the region are required to send weekly reports to the National Bank of Ethiopia, according to the report by FBC. This time around the maximum amount that people could exchange with the new banknotes is less than 100,000 Ethiopian birr. Ethiopia introduced banknotes changes in September 2020 in what was said to be was an effort to combat corruption and illicit trade, and was underway fore three months.

Source: Ethiopian News December 31, 2020 01:41 UTC