WE’VE WITHDRAWN 48% OF OLD CURRENCY FROM CIRCULATION – BOZ
THE Bank of Zambia says it has withdrawn 48% of the old currency from circulation. Speaking during a Facebook broadcast, BoZ Manager for Currency Front Office Operations Patrick Phiri said the central bank had issued approximately K14 billion of the new heritage series and had about K8 billion of the old series remaining in circulation.
He added that in the next month, the withdrawal rate would increase from 40% to 80% since the old K50 and K100 notes will also begin to be withdrawn.
“At the moment, as of the end of August we have withdrawn approximately 48% of the old series. So we are still remaining with about 52% out there”.
News Diggers