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BoN circulates modified notes

Tue, 20 October 2015 21:34
by Villager Reporter
News Flash

The Bank of Namibia (BoN) officially started circulating the modified N$10 and N$20 notes as of today.

This comes two weeks after the central bank introduced the modification of the notes. In terms of circulating the notes, officials from the central bank circulated the funds by buying goods in Pick n Pay in Wernhill.

The change on the 2015 modified N$10 and N$20 banknotes is the removal of the diamond shape security feature which appears on the 2012 series and 2013 improved version of the two respective banknotes. 

However, the Kaptein Hendrik Witbooi series, the 2012 new series and the 2013 improved N$10 and N$20 banknotes will continue to be accepted for payment of goods and services which means that all four series of N$10 and N$20 banknotes will co-circulate in the market.

Members of the public are therefore urged to pay attention to the key visible security features on all banknotes. The most prominent three security features to focus on are the watermark, raised ink and security thread.

In the course of the day, Deputy Governor Ebson Uanguta made a presentation to President Dr Hage Geingob on the modified notes.

“The removal of the diamond feature is part of our continuous efforts to improve the notes and with the modification of the N$10 and N$20 notes we realised that we do not need so many security features on them,” Uanguta said.