Ethiopia Unveils New Currency Notes

0
Wednesday September 16, 2020 - 16:58:05 in Articles by Hadhwanaag News
  • Visits: 153
  • (Rating 0.0/5 Stars) Total Votes: 0
  • 0 0
  • Share via Social Media

    Ethiopia Unveils New Currency Notes

    "A new 200 denomination currency note has also been introduced"

    Share on Twitter Share on facebook Share on Digg Share on Stumbleupon Share on Delicious Share on Google Plus

"A new 200 denomination currency note has also been introduced"

Ethiopia has introduced new bank notes to shore up the country's struggling economy and slow the hoarding of currency and illegal trade activities.

 

Prime minister Abiy Ahmed said the improved design and security features on new Birr notes for denominations of 10, 50 and 100 will make counterfeiting difficult.

  

Lis Dairy

A new 200 denomination currency note has also been introduced. 

Ethiopia is spending more than $97 million to print the new currency.


The Ethiopian government intends to turn the 5 Birr note into a coin format.  

Ahmed said in a statement that money outside the banking system has been rising, affecting how commercial banks can turn assets into cash. 


He added that the outside money also bolsters corruption and illegal trade activities.


Quartz Africa reported Ethiopia last introduced a new money denomination at the end of the Ethiopian-Eritrean civil war two decades ago.


VOA

AFEEF:

Hadhwanaagnews marnaba masuul kama aha Aragtida dadka kale. Qoraaga ayaa xumaanteeda, xushmadeeda iyo xilkeeda sida. waxa kaliya oo Hadhwanaagmedia dhiirigalinaysaa, isdhaafsiga aragtida, canaanta gacaliyo talo wadaagga!

Loading...
Loading...