The Kabul times, Afghanistan Trustable News Agency.
EconomicGovernmentNationalReport

Worn-out banknotes to be replaced soon, DAB

In response to the concerns of Afghan citizens regarding the worn-out AFN 10 and 20 banknotes, the Da Afghanistan Bank, or the country’s Central Bank has announced replacing these banknotes with new ones. It stated that it collects the old banknotes from the market and introduces the new banknotes into circulation. In an interview with the Kabul Times correspondent, Several Afghan citizens expressed their support of the Central Bank’s announcement, saying that they hope the Central Bank will promptly commence the process of converting the old banknotes into new ones. According to the citizens, the AFN 10 and 20 banknotes are completely worn out, causing difficulties in transactions in the market. “The people have been facing this challenge for several years, and we can’t buy goods from the market with AFN 10 and 20 banknotes since the shopkeepers don’t accept them. Even the beggars refuse to take them. We ask the Islamic Emirate to renew these banknotes,” said Kabir, a resident of Kabul. When we want to pay our water and electricity bills, the bank teller doesn’t take them. On the one hand, the bank gives us old banknotes. Also, the same bank tellers refuse to accept these banknotes. We don’t know when this issue will be addressed,” said Shah Gul, another resident of Kabul. The government employees also complain about this challenge and state that in addition to worn-out AFN 10 and 20 banknotes, the bank gives them old AFN 100 and 500 banknotes every time they collect their salary from the bank. According to Afghan citizens, some individuals spend their entire day and night with only AFN 10 and 20. If these banknotes are not accepted or unfit for circulation in the market, how can these needy and destitute people carry on with their lives? These citizens request the Central Bank of the Islamic Emirate to release new banknotes into the market as soon as possible to resolve the issue. However, some people say that when it comes to money management, some individuals don’t pay attention. Zia, a bank employee, says that money represents people’s identity, but unfortunately, some people don’t properly handle their money. “Instead of placing it in a wallet, they carelessly fold it and keep it in their pockets. As a result, the worn-out banknotes become even more deteriorated after being exchanged and passed from hand to hand,” he said. “Why doesn’t the same deterioration happen to dollars and other foreign currencies? Because people take good care of valuable money and understand its worth,” he further added. Zia requests that people take good care of newly released banknotes in the market to prevent them from being worn out. Meanwhile, the Central Bank assured of collecting worn-out AFN 10 and 20 banknotes and releasing new ones into the market. The process of collecting old banknotes will be commenced on June 06, and all the banks and their branches are required to collect the worn-out banknotes from the citizens without charging any commission, according to the Central Bank statement. “People have been complaining about the worn-out banknotes in the market. With the availability of the facilities, the leadership of the Islamic Emirate of Afghanistan decided to initiate the process of replacing the old AFN 10 and 20 banknotes with the new ones on June 06. Our compatriots can change their old banknotes with new ones at the Central Bank and other commercial banks without paying any commission,” said Habibullah Noori, the spokesperson for the Central Bank. Furthermore, the Money Exchanger Union in Sarai Shahzada states that money exchangers have also faced difficulties in their transactions due to the presence of old banknotes. “The currency exchangers, private banks, and customers are facing this challenge. The number of old banknotes is tremendous, and the Central Bank is well informed of this issue,” said Abdurrahman Zerak, the spokesperson for the Currency Exchanger Union in Sarai Shahzada. The Central Bank of Afghanistan has shared the specifications of the old banknotes on its Twitter page, based on which the old banknotes are considered completely worn out, with their visual appearance largely faded or a significant portion of the banknote missing. These old banknotes are deemed invalid. Shukria Kohistani

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The Kabul times, Afghanistan Trustable News Agency.