Ethiopia on Monday demonetized its currency but gave three months window to people to exchange old currency notes from the banks. Prime Minister Abiy Ahmed, who unveiled new currency notes, claimed the step will combat hoarding, counterfeiting, corruption, and other ills afflicting the economy. The banks have been asked to start immediately issuing new notes. more

The government of Ethiopia has introduced new currency notes, with enhanced security features and other distinctive elements. The new currency notes replace the Birr 10, 50, and 100 notes while an additional Birr 200 note has also been unveiled. The Birr 5 note remains unchanged and will be turned into a coin format soon. The more