The National Bank of Kazakhstan resolved on introducing an unlimited period for the exchange of banknotes issued since 2006 and after.
Taking into account applications from the population, as well as international experience, the National Bank decided to introduce an unlimited period for the exchange of banknotes issued from 2006 and after," Zhomart Kazhmuratov, director of the Cash Circulation Department of the National Bank said.
If a new banknote is issued, concurrent circulation period will be valid for 12 months. In other words, both banknotes, old and new, will be legal payment means and must be accepted for all types of payments throughout the year.
After one or another banknote is out of circulation, within 3 years it will be possible to exchange it both in the National Bank branches and in second-tier banks (STB) branches and Kazpost JSC offices.
If, for some reason, the population did not manage to exchange the out-of-circulation banknotes in STBs and Kazpost JSC offices within three years, then the National Bank branches will accept them without time limits.
The innovations take effect on June 12, 2021.
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