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Afghans Complain of Old Banknotes

The Central Bank (Da Afghanistan Bank) on Wednesday at a conference devoted to reviewing its operations and monitoring monetary inflation over the past year,  said that replacing old banknotes is one of the bank's projects.

Officials at the bank said that it annually puts about 3.5 billion new banknotes into circulation.

Bank officials say that in the past eighteen years, about 333 billion new notes have been issued, and about 58 billion Afghanis have been burnt.

“Average inflation is 2.27 percent, indicating that the central bank has implemented its monetary and other policies properly,” said Wahidullah Nosher Acting Governor of the bank.

But some residents of the capital complain that the banknotes are very old, saying that old banknotes are being re-circulated by the bank.

“The Central Bank has to pay attention--collect the old ones and print the new ones--the people pay no attention to taking care of the money properly, and neither does the government,” said Mohmmad Mosa, a resident of the city.

“Old banknotes should be collected completely, and new ones brought to market. No one is taking the old money in the market,” said Bashir Ahmad, another resident of the city.

“There are no new small banknotes-- even old small banknotes are fewer--it is too much of a mess with our customers,” said Monir, another resident of the city.

The deputy head of the Central bank says the exchange of the new banknotes and the burning of the old banknotes takes place in the presence of a delegation from the House of Representatives, the Senate, the Ministry of Finance and Central bank board members.

“When the old money is collected, some of that money is pierced, and the large amount of small money is just stamped and then it is burned in the presence of the delegation, so there is no way that the old money can be re-circulated,” said the Central bank’s deputy head Mohammad Qasim Rahimi.

Central Bank statistics show that there are currently over 275 billion afghanis in circulation in the country, of which more than 20 billion are small banknotes.

Afghans Complain of Old Banknotes

The Central Bank claims it puts about 3.5 billion new banknotes into circulation each year. 

تصویر بندانگشتی

The Central Bank (Da Afghanistan Bank) on Wednesday at a conference devoted to reviewing its operations and monitoring monetary inflation over the past year,  said that replacing old banknotes is one of the bank's projects.

Officials at the bank said that it annually puts about 3.5 billion new banknotes into circulation.

Bank officials say that in the past eighteen years, about 333 billion new notes have been issued, and about 58 billion Afghanis have been burnt.

“Average inflation is 2.27 percent, indicating that the central bank has implemented its monetary and other policies properly,” said Wahidullah Nosher Acting Governor of the bank.

But some residents of the capital complain that the banknotes are very old, saying that old banknotes are being re-circulated by the bank.

“The Central Bank has to pay attention--collect the old ones and print the new ones--the people pay no attention to taking care of the money properly, and neither does the government,” said Mohmmad Mosa, a resident of the city.

“Old banknotes should be collected completely, and new ones brought to market. No one is taking the old money in the market,” said Bashir Ahmad, another resident of the city.

“There are no new small banknotes-- even old small banknotes are fewer--it is too much of a mess with our customers,” said Monir, another resident of the city.

The deputy head of the Central bank says the exchange of the new banknotes and the burning of the old banknotes takes place in the presence of a delegation from the House of Representatives, the Senate, the Ministry of Finance and Central bank board members.

“When the old money is collected, some of that money is pierced, and the large amount of small money is just stamped and then it is burned in the presence of the delegation, so there is no way that the old money can be re-circulated,” said the Central bank’s deputy head Mohammad Qasim Rahimi.

Central Bank statistics show that there are currently over 275 billion afghanis in circulation in the country, of which more than 20 billion are small banknotes.

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