Withdrawal of Damaged Currency from Circulation - Amended BI Regulation

The previous regulatory framework for the withdrawal of damaged currency from circulation was considered to be no longer suitable for the current conditions and has been amended to allow for improved services in relation to the exchange of damaged currency for currency that is still suitable for circulation.

The previous Regulation, No. 6/14/PBI/2004 (Regulation No. 6/2004), has been amended by Regulation No. 9/10/PBI/2007. The amendments affect Article 9 of Regulation No.6/2004. In essence, the amended Regulation stipulates that the exchange services to be provided include the exchange of currency that is still suitable for circulation with different currency that is suitable for circulation, damaged currency that is no longer suitable for circulation with currency that is suitable for circulation in the same denomination or a combination of smaller denominations up to the nominal value of the currency being exchanged.