It was during a meeting organized by the National Director of the BEAC in CAR, Ali Chaïbou, that several clarifications were given on these new ranges of banknotes.
Since December 15, 2020, a new range of banknotes has been circulating in central Africa. BEAC through its National Director in the Central Africa Republic, Ali Chaïbou, explains the objective and what will now change.
“It is all about significantly improving the quality of fiduciary circulation by gradually replacing circulation, the banknotes of the 2022 range, most often worn by new banknotes, identical to the 2002 range currently in circulation. These new banknotes, more compact, more modern and better secured. That is to say that these banknotes put into circulation since December 15 are devoted to the principle of homogeneity of monetary signs and sub-regional integration on the front and all denominations,” explained Ali Chaïbou, National Director of the Bank of Central African States for the Central Africa Republic.
The statement was made on December 20 during an exchange with the press. For the GM, it aims at promoting through, for example, the iconographers on the back the vectors of the emergence of the CEMAC which are education, health, and modern agriculture. But also, added the protection of the environment and the place of women in society.
Regarding the banknotes of the 2002 range currently in circulation, Ali Chaïbou specified that the Ministerial Committee of UMAC (Central African Monetary Union), these banknotes retain their legal tender and legal tender. Consequently, they will continue to circulate together with the banknotes of the 2022 range, “the banknotes of the two ranges must therefore be accepted without distinction in all transactions“, Ali Ali Chaïbo.
However, he specified that the range of 2002 banknotes will no longer be accepted from March 1, 2023. Nevertheless, they will remain exchangeable at the counters of commercial banks and BEAC counters until May 31, 2023. Subsequently, they will be exclusively exchanged at BEAC counters for one year; after which they can no longer be exchanged.