Central Bank To Roll Out New Currency In April 2018

The Kenyan central bank sits in central Nairobi, Kenya, on Thursday, Feb.10, 2011. KenyaÕs current-account deficit widened to $1.92 billion in the year through October from $1.75 billion a year earlier following increased imports and reduced short-term flows, the central bank said. Photographer: Trevor Snapp/Bloomberg
cbk, KRA
central bank of kenya

The Central bank has said that it will initiate the roll out of new notes and coins between April and June of 2018, Dr. Njoroge the Central Bank governor has said.

“Our expectations according to timelines are to issue the currency in the second quarter of 2018,” he asserted.

The printing tender for the new notes was awarded to an international company. They had earlier been taken  to court by British Company De La Rue who said that they should have been considered for the tender.

Read:Ballot Paper Printing Firm CEO Met With Uhuru But For Different Reasons

The central Bank of Kenya however said that the complex nature of the design for the notes could not be printed locally.

The Central bank also denied claims that they used printer De La rue to destroy old notes.They said that the process was done without the involvement of any printer.

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Written by Merxcine Cush

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