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Ethiopia introduces new currency notes with enhanced security features

The government of Ethiopia on Monday introduced new currency notes, with enhanced security features and other distinctive elements.The new currency…

The government of Ethiopia on Monday introduced new currency notes, with enhanced security features and other distinctive elements.The new currency notes replace existing 10, 50 and 100 Ethiopian notes while an additional 200 birr note has been unveiled.

The 5 birr note remains unchanged and will be turned into a coin soon, according to the office of the Prime Minister.

The currency change aims at tackling counterfeit currency notes outside of financial institutions, curbing corruption and contraband and supporting financial institutions to confront currency shortage.

Most of the print work of the new currency notes is currently underway in the country within the National Bank of Ethiopia (NBE) vault, the office added.

Distribution mechanism and planning having been developed and will go in effect through concerned bodies, the office noted.

As security plays a key component in the currency change process, a federal command post will be set up to oversee this process with the expectation that Regional Command Posts will also be set up, the office indicated.

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