Cen­tral bank un­veils new M200 note

Lesotho Times - - Business - Bereng Mpaki

THE Cen­tral Bank of Le­sotho (CBL) has in­tro­duced a new M200 bank note which will go into cir­cu­la­tion in April this year.

CBL Gov­er­nor, Dr Retšelisit­soe Mat­lanyane, said the new bill was part of the fam­ily of M10, M20, M50 and M100 bank notes that were first launched in 2010.

“It gives me great plea­sure and pride to an­nounce to you that very soon, the Cen­tral Bank of Le­sotho will be launch­ing a new M200 ban­knote to the pub­lic,” Dr Mat­lanyane said dur­ing a press briefing this week.

“This new ban­knote is part of the cur­rent fam­ily of ban­knotes fea­tur­ing por­traits of three gen­er­a­tions of Ba­sotho Kings which was first launched in 2010.

“This new M200 ban­knote will be launched on the 1 April 2016. The old M200 ban­knote fea­tur­ing the por­trait of the found­ing father of the na­tion, King Moshoeshoe I, shall con­tinue to be recog­nised as le­gal ten­der along­side the new one un­til its stocks are com­pletely de­pleted.”

She said the new bill had en­hanced se­cu­rity fea­tures to pre­vent coun­ter­feits.

“The na­tion is ad­vised that posters and pam­phlets bear­ing the pic­tures of the new ban­knote and ex­plain­ing the var­i­ous secu- rity fea­tures shall be posted all over the pub­lic of­fices and busi­ness cen­ters around the coun­try,” said Dr Mat­lanyane.

“The ob­jec­tive will be to en­sure that the na­tion ap­pre­ci­ates the look of the new bank- note and to learn about its se­cu­rity fea­tures be­fore it is launched.”

The gov­er­nor said work­shops and pub­lic gath­er­ings would be held un­der the theme “Know Your Money” across the coun­try be- fore and af­ter the cir­cu­la­tion of the bill.

“Large busi­nesses are en­cour­aged to ap­proach the Cen­tral Bank to get the posters and pam­phlets for the ben­e­fit of their work­force and cus­tomers,” she said.

“Mem­bers of the pub­lic are, there­fore, re­quested to em­brace this new bank note and to care­fully learn its se­cu­rity fea­tures in or­der to avoid be­ing de­frauded.”

CBL Di­rec­tor of Op­er­a­tions, Se­abata Ntelo, said the new ban­knote had three lev­els of se­cu­rity fea­tures to pre­vent coun­ter­feits.

He said some of the fea­tures were vis­i­ble to the naked eye while oth­ers were iden­ti­fi­able by touch. Some of the se­cu­rity fea­tures could be de­tected by cer­tain pub­lic devices while oth­ers could only be iden­ti­fied by CBL devices.

“The recog­nis­able fea­tures of the bill in­clude the raised print of gen­uine cur­rency, a water­mark of King Moshoeshoe I, a re­flec­tive sil­ver strip and a Mosotho man on horse­back on the back of the note,” Mr Ntelo said.

“We did not launch the bill in 2010 be­cause we had a lot of stock at the time and it would have been too costly to re-print. Again, at the time, the lim­ited mar­ket de­mand for the M200 bill did not war­rant a re-print.”

THE new M200 ban­knote.

Newspapers in English

Newspapers from Lesotho

© PressReader. All rights reserved.