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Banknote quality improves in Tanzania thanks to clean note policy

Categories : Cash is efficient
June 16, 2016
Tags : Africa, Cash centres, Central Bank, Clean note policies, Denomination mix, Durability
The quality of banknotes in circulation has improved significantly as Central Bank clean money policy intensifies
Guillaume Lepecq

The implemantation of a clean note policy, which requires commercial banks to fitness sort notes and repatriate unfit notes to the central bank, has contributed to improve the quality of banknotes. The central bank has a network of five branches and nine cash centres; an additional branch willl be added shortly. Note quality remains poor in areas where the Bank of Tanzania does not have cash centres.

The highest denominations currently have a lifecycle of over a year. The low denominations last less than six months. The lowest note – the TZS 500 – is being replaced by a coin.

Further information is available here.