• Mon. Jul 22nd, 2024

The Bank of the Republic of Burundi has launched a new 1,000 BIF note

ByWebmaster

Jul 28, 2022

BUJUMBURA July 28th (ABP) – The Bank of the Republic of Burundi (BRB), on Tuesday July 26, 2022, launched a new improved 1.000 BIF note with the aim of improving the quality and keeping in circulation of banknotes clean and secure, according to a press release issued on July 26, 2022.

The BRB indicates that, like those in the range of 10,000, 5,000, 2,000, and 500 BIF in circulation, that new 1,000 BIF banknote is printed on high-durability paper with modern international standard security as well as uniqueness. of style and architecture.

The visual rendering, the dimensions, as well as the security signs of this banknote are almost the same as for the old banknote, with the exception of a few changes.

These changes include a gray windowed security thread embedded in the paper, showing a heifer’s head and the letters “BRB” making rapid movements when the banknote is tilted instead of a metallic security thread embedded in the paper. mass of paper, a security composed of a color-changing ink, in the images of the drum and the heifer’s head.

In the middle of the two widths of the new banknote, bars in black color replace the bars in red color of the old banknote. Also, the film that protected both sides of the old 1,000 BIF note is removed and replaced by a special varnish on a high durability paper.

The press release indicates that, during a period of 3 months of “double circulation”, it will be possible to pay for purchases with the old 1,000 BIF note or with the new one. During this period, the public will be able to exchange the old 1,000 BIF banknotes for the new ones in any bank or microfinance institution in the country without any other formality.

At the end of this period, i.e., on October 26, 2022, the 1,000 BIF banknotes will lose their legal tender and exchanges of this banknote can only be done at the headquarters and at the branches of the BRB for a discount of 5%.