The old version of Kenya’s Ksh.1000 currency notes will be out of circulation by October 1 this year the Central Bank has announced aimed to fight counterfeit and illicit financial flows.
Speaking when he unveiled the new legal tender at the Madaraka Day celebrations in Narok, CBK Governor Patrick Njoroge said the move is intended to fight counterfeit practices.
“All the older Ksh.1000 series shall be withdrawn. All persons have until October 1, 2019, to exchange these notes, after which the older ones will cease to be legal tender,” said Dr. Patrick Njoroge, the central bank governor while unveiling the new legal tender during the 56th Madaraka Day celebrations held in Narok County on Saturday.
Tusherehekee Madaraka Yetu! Our New Generation Currency banknotes are here! pic.twitter.com/Spasq8t7JO
— Central Bank of Kenya (@CBKKenya) June 1, 2019
Dr. Njoroge said they have completed the process of generating the new notes and they are already in circulation.
According to the CBK guidelines: “If you tilt the angle, you will see the security thread changes colour from red to green on all bank notes. The 200, 500 and 1000 bank notes have additional rainbow colours on the thread.”
Article 231 (4) of the Constitution of Kenya, “Notes and coins issued by the Central Bank of Kenya may bear images that depict or symbolise Kenya or an aspect of Kenya but shall not bear the portrait of any individual.”