Afghanistan Might Issue Plastic Banknotes

12 Jan 2018  Fri

Due to excess expenditure on replacing torn and mutilated banknotes, the Central Bank of Afghanistan (CBA) is planning to print plastic banknotes for the country. More than 3.3 billion Afs worth banknotes become unusable every year as per statistics, which is also affecting Afghanistan’s economy. Burning of unusable banknotes also has a negative impact on the environment as well. Plastic or hybrid banknotes are now on the cards.

Officials are surprised to learn that there has been an increase in the number of old banknotes in circulation. They believe that people should be aware of the exact numbers. It costs 3.5 Afs to print one banknote and the replacement of old banknotes causes a loss of 11 billion Afs to the country. Banks have no problems in releasing old banknotes but on the other hand, they are not accepting old banknotes from the public.

There are reports that some people are exchanging new banknotes with old notes with some difference in the price. This has led to corruption as well.