Foroyaa has been trying to reach the Central Bank to get clear explanation why old currency notes are still in circulation when new ones have been issued without much success. In a system where monetary policy is taken seriously, the volume of currency in circulation should be determined as loan to the Central Bank. Any change of currency notes should accommodate the volume of old currency.
The most effective way of changing currency notes is to set up a date for the invalidation of the old currency notes and the validation of the new ones. With that date in mind all financial institutions would be able to receive the old currency notes and exchange them for the new ones. More effort will be done to gather the facts on this matter for future publication.
