BANK OF LIBERIA ISSUES NEW BANKNOTES

The Central Bank of Liberia (CBL), Thursday, October 6, commenced the distribution and issuance of the newly printed Liberian dollar banknotes.

The new local currency is being distributed through commercial banks and other financial institutions throughout the country to serve customers who may wish to exchange mutilated notes for the new Liberian dollar banknotes.

A spokesperson for the Central Bank of Liberia told the Daily Observer that the release of the new banknotes is synchronized with the retrieval of mutilated banknotes from commercial banks in line with a schedule designed by the Banking Department of the CBL. Thus, public is advised not to rush to exchange mutilated notes for new ones because the process is ongoing, without a deadline.

Both the old and new denominations of Liberian Dollar banknotes will circulate simultaneously with equal monetary value, CBL says.

Though the existing denominations maintain their respective portraits, the Bank has reinforced the security features in the new series. The newly introduced denomination of L$500 denomination contains portraits of ordinary Liberians on the front, and Liberian wildlife on the back. CBL has meanwhile ensured that the new series is printed on a higher quality substrate to guarantee longevity and reduce porosity.

In the year 2000, the CBL introduced the new Liberian dollar banknotes as a unified currency to replace the old “J.J. Roberts” banknotes. Since its introduction, the Liberian banknotes have undergone minor technical redesign and security feature enhancements.

To read the complete article, see:
New Liberian Money Out (www.liberianobserver.com/business/new-liberian-money-out)

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