JOHANNESBURG - South Africa last week announced the withdrawal of its old R200 bank notes, following a proliferation of high quality counterfeits. We advise that the Bank (SARB), together with the commercial banks, is withdrawing all old series R200 banknotes that remain in circulation, said South Africas Reserve Bank (SARB) governor, Gill Marcus.
Members of the public are requested to present these banknotes for exchange at the nearest commercial bank by the end of May 2010. After this date it will only be possible to present these banknotes to the South African Reserve Bank Branches for exchange.
She warned the public to be careful when dealing with the R200 notes, adding that there had been a very high number of fake notes in circulation, a matter she said had been put under investigation.
She added that R200 banknotes of the upgraded series, bearing the signatures of former Governor, Tito Mboweni and that of hers, have the security features and are not affected by the counterfeit problem and would remain in circulation.
South Africa has a family of five banknotes, with the R200 banknote being the highest denomination.
It is also necessary for Zimbabweans to know the security features, as the country adopted the South African Rand, alongside the United States dollar last year, to counter hyper-inflation.
Post published in: Uncategorized