TODAY NICARAGUA – Starting on October 26 the new banknotes for all denominations will begin circulating in the country, introduced by the Nicaragua Central Bank (Banco Central de Nicaragua (BCN), to meet the demand for cash for the 2015-2017 period.
“The issuance of the new notes is done to meet demand and replenish the central bank notes withdrawn from circulation due to deterioration, and improve the security features of banknotes in circulation,” said Ovidio Reyes, president of the BCN.
According to the BCN, counterfeiting in Nicaragua is rather low on average, only 17 per million banknotes.
Reyes said that the circulation of the current bills will continue until they are replaced gradually.
The official said changes were also made “to make them as well as being safer, they are colourful and attractive, incorporating new images of historic buildings, landscapes and traditions that promote the identity, culture and beauty of our country”.
The new banknotes were printed by a French company at a cost of US$17 million dollars, winning the 2014 tender that also participated companies from Germany, Canada, England and Poland. Each new bill costs between 6 and 9 U.S. cents, according to the BCN.
Article originally appeared at Todaynicaragua.com
