Somalia to Issue First New Banknotes in More Than Three Decades
- New 1,000-shilling notes to become legal tender in 2024
- Deputy central bank governor says policy will curb inflation
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Somalia’s central bank aims to replace the only high-value currency note still in use by next year to deal with counterfeit bills, excess cash in circulation and inflation.
The redesigned 1,000-shilling notes will replace those printed before the civil war broke out in 1991, central bank Deputy Governor Ali Yasin Wardheere said in an interview in Mogadishu, the capital.