Residents of Tigray region have been given 14 more days to exchange their old banknote (Ethiopian Birr). This was announced by the National Bank of Ethiopia.
The bank notes will be exchanged for two weeks including over the weekends starting from 30th December 2020.
The people of the Tigray region were not able to exchange their old notes due to the then ongoing “law enforcement operation”.
Commercial banks in the Tigray region are required to submit weekly reports to the National Bank of Ethiopia.
As part of demonetization process, Ethiopia introduced new currency in September 2020. This was aimed at combating corruption as well as the illicit trade.
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