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Liberia news

CBL releases new money

The Central Bank of Liberia (CBL) says it has commenced the distribution and issuance of newly printed Liberian dollar banknotes.  A press release issued by the CBL says the new Liberian dollar banknotes are being distributed to 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. 

CBL releases

The Central Bank says it will commence retrieval of mutilated bank notes from commercial banks in line with a schedule designed by the Banking Department of the CBL, and advised the public not to rush to exchange mutilated notes for new ones because the process is ongoing, without a deadline.

The release issued Thursday, 6 October says both the old and new denominations of Liberian Dollar banknotes will circulate simultaneously with equal monetary value. The Central Bank tellers’ windows for the collection of mutilated notes will continue to serve the public daily, and the Bank is also encouraging all commercial banks in the country to accept mutilated notes from the public and bring said notes to the CBL for deposit.

The release says the new series includes, among others, the unifying nature of the existing Liberian banknotes, and as such, has maintained all previous portraits. The CBL has also reinforced security features in the new series, which are both visible and invisible. “In addition, the CBL has ensured that the new series is printed on a higher quality substrate to guarantee longevity and reduce porosity”, the Bank concluded. Press release

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