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Macedonia - The banknotes of 10 and 50 denars from 15 May will replace new polymeric ones

New banknotes of 10 and 50 denars on the market since May 15. Book money from these denominations that are now used will no longer apply. Will be replaced for new made of polymer.

The coins of 10 and 50 denars remain on the market.

The NBRM Council adopted a Decision by which 15th of May this year, banknotes made of polymer will be put into circulation, in denominations of 10 and 50 denars.

When the new money is released, the current bank notes cease to be a legal means of payment. Legal entities and natural persons will be able to exchange them free of charge with other banknotes or coins with an equivalent amount. The exchange from 15 May to 15 May 2019 will be performed by the commercial banks in the country, and after this period it will be done in the National Bank, reads the press release of the NBRM.

The old banknotes of 10 and 50 denars were put into circulation in September 1996.

The National Bank also adopted decisions to improve and the manner in which the NBRM supervises the banks in the country, as well as the supervision of the operations of persons connected with the commercial banks.

Two years ago, the NBRM decided to withdraw from the circulation the banknote of 5,000 denars, and in exchange, to issue new money of 200 and 2000 denars.

The decision was made on the basis of an analysis that showed that a large part of the citizens did not use this bank note because of the high nominal value.

Source: sitel

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