Kenyans have until October to exchange old Ksh.1K notes: CBK

Kenyans have until October to exchange old Ksh.1K notes: CBK

The Central Bank of Kenya has said old Ksh.1000 notes should be out of circulation by October 1 this year.

Speaking when he unveiled the new legal tender at the Madaraka Day celebrations in Narok, CBK Governor Patrick Njoroge said the move is intended to fight counterfeit practises.

“All the older Ksh.1000 series shall be withdrawn. All persons have until October 1, 2019 to exchange these notes, after which the older ones will cease to be legal tender,” he said.

He said the CBK has completed the process of generating the new notes and they are already in circulation.

The front of the bank notes bear the image of the Kenyatta International Conference Centre (KICC).

According to Article 231 (4) of the Constitution: “Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but shall not bear the portrait of any individual.”

A dove is also shown to symbolise a peaceful Kenya, the CBK says adding that the designs are easier to spot for those with vision impairment.

To determine authenticity of the new notes, Kenyans are urged to hold up a note to the light and check for a watermark from both sides.

The watermark is of a lion’s head and a security thread appears as a continuous line.

According to the CBK guidelines: “If you tilt the angle, you will see the security thread changes colour from red to green on all bank notes. The 200, 500 and 1000 bank notes have additional rainbow colours on the thread.”

The golden band on the back shows the note value.

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