Withdrawal of old R200 banknotes
2010-05-20
COUNTERFEITERS have forced the South African Reserve Bank (SARB) to issue new R200 notes.
The SARB has been separating the old issue from the new issue R200 banknotes for approximately the last six months and therefore has only been paying out new issue R200 notes during this period. At least 75% of the old issue R200 banknotes have been taken out of the system, a spokesperson of the Reserve Bank said. People can exchange their old R200 notes at any bank branch until the end of May. The market was flooded with forged R200 notes and hence the decision of SARB to withdraw the old notes. It is suspected that R1 million of these counterfeit notes are in circulation.
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