Central Bank Governor, Dr. Patrick Njoroge, says the bank hopes to mop up 217 million US Dollars, the total amount of the old one thousand shilling notes that were in circulation.
Those with $20 000 could only exchange it at the Central Bank – many it seems did not wait until the last minute to exchange the money. The Central Bank of Kenya announced the demonetization in June this year. The aim is to rid the country of dirty money.
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