Czech National Bank withdraws smallest banknote
The Czech National Bank said Friday that it was terminating the country's smallest banknote, the Kc50 ($2.84), as the notes cost more to maintain than coins.
From 1 April next year, the notes will be invalid, and replaced with a Kc50 coin, which the central bank introduced in 2006.
Tomáš Hládek, the central bank's head of cash and payment systems, told CentralBanking.com that it was not the cost of producing the Kc50 notes, but their lifespan, which has motivated the decision. "With the Kc50
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