Central Banking

CNB to get rid of 1000, 5000 crown banknotes

The 1993 version of 1,000 and 5,000 crown banknotes will no longer be legal tender from July 1 2001. After this date it will no longer be possible to buy goods in shops with them, but they can still be exchanged at commercial banks for three more years.
The 1993 version of 1,000 and 5,000 crown banknotes will no longer be legal tender from July 1 2001. After this date it will no longer be possible to buy goods in shops with them, but they can still be exchanged at commercial banks for three more years.

After June 30, 2004 they can be exchanged at Czech National Bank (CNB) branches. The CNB's Leopold Surga said the deadline for ending the exchanges has not been set yet. The withdrawal of the notes from circulation comes in response to efforts to combat counterfeiting. On December 19 this year the central bank had registered 9,137 counterfeit and altered banknotes and coins. Czech banknotes were involved in roughly 5,000 cases.

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