Monrovia - The Central Bank of Liberia (CBL) Thursday commenced the distribution and issuance of the newly printed Liberian dollar banknotes.
The new Liberian dollar banknotes are being distributed to commercial banks and other financial institutions throughout the country to serve customers who may wish to exchange mutilated notes for the new Liberian dollar banknotes.
The Central Bank of Liberia will commence the retrieval of mutilated bank notes from commercial banks in line with a schedule designed by the Banking Department of the CBL.
The public is advised not to rush to exchange mutilated notes for new ones because the process is ongoing and at the moment it is without a deadline.
Both the old and new denominations of Liberian Dollar banknotes will circulate simultaneously with equal monetary value.
The Central Bank tellers’ windows for the collection of mutilated notes will continue to serve the public daily.
The Central Bank is also encouraging all commercial banks to accept mutilated notes from the public and bring said notes to the CBL for deposit.
This new series includes, among others, the unifying nature of the existing Liberian banknotes, and as such, has maintained all previous portraits.
The CBL has also reinforced the security features in the new series, which are both visible and invisible. In addition, the CBL has ensured that the new series is printed on a higher quality substrate to guarantee longevity and reduce porosity.