Cash Confusion in Bolivia | Confusión de billetes en Bolivia

By Germaine Barriga, Vision 360:

Starting tomorrow, the exchange of Bs 50, Bs 20, and Bs 10 banknotes from Series B for those from Series A will begin

The Central Bank of Bolivia reclassified 390 million banknotes from the three denominations that had been returned for destruction so they can circulate again, due to public distrust that has led people to reject the Series B notes.

A partir de mañana, las personas que quieran cambiar billetes de los cortes de Bs 50, Bs 20 y Bs 10 de la serie  la serie A, por los de la serie B, pueden hacerlo en las entidades bancarias. Foto Correo del Sur

Starting tomorrow, people who wish to exchange Bs 50, Bs 20, and Bs 10 banknotes from Series A for those from Series B may do so at banking institutions. Photo: Correo del Sur.

Beginning Monday, the exchange of Bs 50, Bs 20, and Bs 10 banknotes from Series B for those from Series A will start in all banking institutions for anyone who voluntarily wishes to do so. This measure was ordered by the Central Bank of Bolivia, in response to distrust among sectors of the population.

Last Friday, the president of the BCB, David Espinoza, announced that the institution would reclassify the Series Abanknotes that had been returned to the BCB for destruction so that they could circulate again throughout the national territory.

The accident involving a Hercules C-130 aircraft, which occurred on February 27, had been transporting a shipment of Bs 50, Bs 20, and Bs 10 banknotes that were to be delivered to the BCB. The bills were scattered and taken by hundreds of people, which caused public distrust regarding their legal validity.

Espinoza explained that more than 390 million Series A banknotes will return to circulation in the country and that work on their reclassification was carried out with the participation of the entire financial system so that, starting Monday, March 16, they could circulate again.

He said that those who wish to voluntarily exchange their Bs 10, Bs 20, and Bs 50 banknotes may do so at banking institutions. However, he reiterated that Series B banknotes remain fully valid legal tender, while the bills that were stolen are invalidated.

For his part, the president of the Association of Banks (Asoban)Nelson Villalobos, acknowledged that some difficulties have been observed among the population due to doubts about the validity of Series B banknotes, which is why they will support the call made by the BCB to proceed with the exchange of Series B banknotes.

Villalobos said that people will possibly go to banking institutions to exchange Series B banknotes for Series A, and that the banks are being supplied with Series A notes in order to assist with this process.

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