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Central Bank collects 935m defaced banknotes

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AT Monitoring Desk-KABUL: The Central Bank will not exchange damaged and defaced banknotes after the final deadline of August 21. The state owned Central Bank says it has collected over 935 million Afghanis of the affected banknotes.

The Central Bank Spokesman, Aimal Hashoor said that beyond the deadline the banknotes will not be exchanged by the Central Bank.

However, money exchangers have also said a large number of the defaced and damaged banknotes remain apparently in circulation of local markets, despite the Central bank extended twice the deadline.

“There are many problems. Neither we nor the banks are accepting the affected and damaged notes. People have no idea what to do,” said Mohammad Reza, a money exchanger in Kabul’s Karte Se area.

Furthermore, Abdul Wadood, a shopkeeper in Kabul said: “Government should review and investigate this problem. The defaced and damaged banknotes must be collected from all the markets.”

The Central Bank set its first deadline for the banknotes in February and extended it in March. However, reports indicate that a large number of the banknotes are still being used in routine transactions by the people.