JOHANNESBURG - Botswana's central bank said on Thursday it would introduce new banknotes with enhanced security features next month and would phase out the old ones by December 2014.“The introduction of the new banknotes follows a comprehensive review of the current banknotes in order to bring them in line with current trends,” the bank said in a statement posted on its website.
It said it would would also introduce a higher denomination 200 Botswana pula (about $29) note.
“The existing banknotes will be withdrawn from circulation when the new banknotes are introduced. After December 31, 2014, all old banknotes will be demonetised and cease to be legal tender,” the statement said.
The southern African country’s inflation rate has slowed to 7.0 percent as of June — a near three-year low — since hitting 15 percent in November last year, but still remains above the top end of a 3-6 percent target band.
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