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UPDATE (11/12/19): Minister of Finance, Colm Imbert, stated in Parliament on Tuesday 10th December 2019 that the Government has no intention of extending the deadline, which means all $100 bills has to be exchanged before Tuesday 31st December 2019. At a News Conference held this morning (Monday 9th December 2019), Central Bank Governor, Dr. Alvin Hilaire, announced the date for demonetization of the current $100 bills - Tuesday 31st December 2019. The new $100 bills are being distributed to all commercial banks today and will be available to the public from tomorrow (Tuesday 10th December 2019). The Central Bank was approached....there are a few things we know that are already in the public domain. There are many things that we don't know and many things we don't need to know but we are rising to the call. Minister of National Security, Stuart Young, announced Government's plan to roll out the new $100 bill at a Post-Cabinet press briefing on Thursday 5th December 2019. Demonetization would normally take place three (3) months after an announcement is made but amendments were made by Parliament over the weekend to the existing law, allowing it to now be done after only two (2) weeks.
At today’s News Conference, Dr. Hilaire said that all other currency denominations will be converted to polymer by 31st March 2020. He added the polymer is more durable and cost-effective and will help save the country a lot of money. As for availability of the new $100 bills, Dr. Hilaire asked for some patience from the public, adding that while the banks are making the effort, it could take a little while for everything to flow smoothly. [Source: CNC3] We are a small operation. If you've found our articles to be informative, please consider supporting us via PayPal or buying us a coffee. Your contribution is incredibly appreciated and goes a long way. Simply sharing our articles also helps us. Sign up for our free WhatsApp Alerts to be notified as soon as we post breaking news. NEW! Check out our Merchandise Store for high-quality t-shirts, hats and more!
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