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All set for deployment of new banknotes on Thursday

The Bank of Jamaica (BOJ) has confirmed that all is set for the deployment of new polymer banknotes on Thursday.
 
Late last year, the central bank said the more durable notes were to be put in circulation by the middle of 2023.
 
The central bank says as a part of the deployment process, it will extend its counter operating hours by one hour to accommodate members of the public who may want to exchange the old banknotes for the new ones.
 
Starting this Thursday and continuing until next Friday, June 23, the BOJ will close at 2 p.m.
 
The bank says people wishing to exchange notes must take a valid Government-issued photo ID and their Taxpayer Registration Number.
 
For transactions exceeding the local equivalent of US$1,000, source of funds documentation must be provided.
 
The current notes in circulation will co-exist with the new polymer notes as legal tender.
 
The BOJ indicated last year that it expects the old notes to remain in circulation for at least another two years.


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