Kenyans have recently raised issues or rather claims that the new currency is wearing out or aging at faster rate. This comes just years after Central Bank of Kenya issued new currency bearing the symbols of Wild animals.
Central Bank of Kenya Governor Dr. Patrick Njoroge on 29th June 2021 explained to Kenyans why the new currency notes are aging at faster rate. He admitted that the lower denominations were wearing faster than the older notes due high rate of circulation. Question does this mean the older notes were not circulating faster? Help us find answer to this question.
While appearing before the Senate Committee on Finance and Budget on Tuesday, Dr. Patrick Njoroge claimed that the new notes were of superior quality compared to the older notes. He further blamed a section of Kenyans over money or cash handling skills, claiming most of Kenyans does not use wallets for safekeeping of cash.
Kenyans should therefore handle cash with respect or keep it money in their wallets to protect the notes from wearing out faster.
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