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The Swiss National Bank announced on its official website that it would withdraw the eighth series of franc banknotes from circulation in the first half of 2021. They were put into circulation in the period from 1995 to 1998, and the exact date of withdrawal of these Tickets will be announced two months before.
On that occasion, the National Bank of Serbia also announced that it recommended that citizens deposit the eighth series of Swiss franc banknotes in banks in exchange for savings in foreign currency, sell them for dinars, convert them into another currency or exchange them by opting for banknotes. of the ninth series issued in 2016. for 2019.
The NBS advises that this be done as soon as possible, because banks and authorized exchange offices will stop buying the “Swiss” of the eighth series even before they actually become non-optical.
As announced by the central bank, authorized exchange houses and commercial banks act in this way because they also need time to sell the banknotes that are no longer circulating to foreign banks.
The replacement of these banknotes, once they are no longer legal tender, will be possible without time limit at the counters of the Swiss National Bank in Bern and Zurich or by sending them by post to said bank.
The NBS notes that the sixth series, which was withdrawn from circulation on May 1, 2000, can be replaced in the same way at the Swiss National Bank, while the seventh series is spare and was never put into circulation.
The reason for the withdrawal from circulation of the eighth series of “Swiss” is the improvement of the security features of the banknotes, which was carried out in the ninth series, which protects them more effectively against counterfeiting.
The denomination of 500 euros remains in circulation
Regarding doubts about the 500-euro note, the National Bank of Serbia announced in mid-November that the note was not being withdrawn from circulation and that citizens had no reason to worry about its possession and use.
The note can be used for all legal transactions, including foreign exchange transactions, savings in banks and use for payments allowed at home and abroad, the NBS said in a statement, adding that “there is no announcement from the Bank. Central European that this banknote could be withdrawn from circulation “.
The Central Bank of Serbia emphasizes that the 500 euro banknote is legal tender in the countries of the European Monetary Union, like all other denominations of euro banknotes, series A.
By the way, there are two series of euro banknotes in circulation at the same time. In addition to the old series A, which includes seven different denominations, namely denominations of five, 10, 20, 50, 100, 200 and 500 euros, the series B euro banknotes, in circulation since 2013, are also in circulation. . until 2019, which consists of six denominations, as it does not contain a denomination of 500 euros.
The European Central Bank stopped printing this denomination in the aforementioned series B because it was noticed that the 500 euro banknote of series A was frequently used in illegal transactions.
This is one of the reasons why the NBS recommends that citizens, for their safety, that is, due to the possible occurrence of counterfeiting, carry out exchange operations exclusively in banks and authorized exchange offices.
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