{"id":33737,"date":"2023-09-15T08:05:42","date_gmt":"2023-09-15T08:05:42","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash"},"modified":"2023-09-15T08:49:59","modified_gmt":"2023-09-15T08:49:59","slug":"new-e200-notes-response-to-demand-for-cash","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash","title":{"rendered":"\u2018NEW E200 NOTES RESPONSE TO DEMAND FOR CASH\u2019"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>The Central Bank of Eswatini\u2019s (CBE) release of the new banknotes to supplement those in circulation is an affirmative indication of the country\u2019s economic demand for cash.<\/b><\/p>\n

CBE Head Strategy and Communications Mandla Luphondvo said the demand for cash was driven by the country\u2019s economic performance, which included inflation.<\/p>\n

The Central Bank recently launched the new E200 bank notes with updated features.<\/p>\n

They were launched by CBE Governor Dr Phil Mnisi at the Eswatini International Trade Fair (EITF) 2023.<\/p>\n

Mnisi outlined the changes incorporated into the new notes such as the change from Central Bank of Swaziland to Central Bank of Eswatini, an improved portrait of His Majesty King Mswati III, as well as signatures of the current CBE governor and minister of Finance Neal Rijkenberg.<\/p>\n

Mnisi also highlighted that there were a few security features which had been included.<\/p>\n

\u201cOne prominent one is that when you try and print your own copy it will just turn black. There are security features inside this paper that will protect the note,\u201d said Mnisi.<\/p>\n

The governor highlighted that the release of the new notes was meant to supplement those in circulation because the stock levels had gone down.<\/p>\n

Although Luphondvo could not reveal the value of the reprinted notes, he explained that as banknotes were circulated, they suffered damages over time, causing the stock of notes to deplete.<\/p>\n

\u201cThey get soiled, dirty, or mutilated and such banknotes are destroyed and replenished with new banknotes,\u201d said Luphondvo.<\/p>\n

\u201cPart of the responsibility of the Central Bank is to ensure that there is an adequate supply of banknotes and coins in Eswatini,\u201d he said.<\/p>\n

Luphondvo said this was executed through monitoring of banknotes stock levels, which was guided by the economic demand for cash.<\/p>\n

\u201cThe demand for cash is driven by the economic performance of that country, which includes inflation,\u201d he explained.<\/p>\n

As part of the traditional cash life cycle process common in every central bank, notes were ordered to stock up as economic activities took place.<\/p>\n

\u201cOver time through this lifecycle process, stock of notes is depleted,\u201d said Luphondvo.<\/p>\n

He said central banks around the world printed banknotes and mint coins to replenish their stock.<\/p>\n

\u201cBanks withdraw notes to issue to their clients,\u201d he said.<\/p>\n

He added: \u201cUsed notes are received by banks and deposited into the Central Bank from time to time and CBE processes them on its high-tech machines which automatically verified the fitness of each note to be re-issued back into circulation.\u201d<\/p>\n

He further explained that notes that failed the tests were shredded and destroyed whilst those that passed the test were re-stocked and issued back to the system. \u201cThe E200 banknotes versions that are still in stock will continue to co-circulate with the 2023 reprinted E200 banknotes,\u201d he said, echoing the governor\u2019s sentiments during the launch of the notes. He added that as all CBE banknotes denominations, the E200 printed in 2023 will co-circulate with the existing E200 versions until the old notes gradually diminish.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. The Central Bank of Eswatini\u2019s (CBE) release of the new banknotes to supplement those in circulation is an affirmative indication of the country\u2019s economic demand for cash. CBE Head Strategy and Communications Mandla Luphondvo said the demand for cash was driven by the country\u2019s economic performance, which included inflation. The Central Bank […]<\/p>\n","protected":false},"author":84,"featured_media":33736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,248,249],"class_list":["post-33737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\n\u2018NEW E200 NOTES RESPONSE TO DEMAND FOR CASH\u2019 - Eswatini<\/title>\n<meta name=\"description\" content=\"The Central Bank of Eswatini\u2019s (CBE) release of the new banknotes to supplement those in circulation is an affirmativ ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018NEW E200 NOTES RESPONSE TO DEMAND FOR CASH\u2019\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Eswatini\u2019s (CBE) release of the new banknotes to supplement those in circulation is an affirmativ ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-15T08:05:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-15T08:49:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/09\/sm_1694753840.647765.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"\u2018NEW E200 NOTES RESPONSE TO DEMAND FOR CASH\u2019\",\"datePublished\":\"2023-09-15T08:05:42+00:00\",\"dateModified\":\"2023-09-15T08:49:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash\"},\"wordCount\":516,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/09\/sm_1694753840.647765.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/new-e200-notes-response-to-demand-for-cash\",\"name\":\"\u2018NEW E200 NOTES RESPONSE TO DEMAND FOR CASH\u2019 - 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