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360 Million AFs Worth Worn-out Banknotes Burnt by Afghanistan

24 Apr 2017  Mon

360 million AFs worth of worn-out Afghani banknotes were burned down officially by the Central Bank of the country two weeks back. A total of 41 billion AFs has been destroyed this way in the last 11 months. Officials found it difficult to register serial numbers of worn-out notes and burned them directly. Some banking experts were against this action as they believed that registering serial numbers of worn-out banknotes will increase transparency and reduce corruption. The institution responsible for destroying the bank notes said that they go to the Central Bank, count the worn out banknotes, transfer them to the store and finally burn them.

Bank notes are used very frequently and almost for all transactions in Afghanistan. Apart from that, the lifespan of banknotes is very less as per officials, which is why old banknotes are being destroyed and replaced by new ones. 3 AFs are spent for printing each Afghani banknote.

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