20 million banknotes to be made invalid

banknotesBanknotes.Photo: Sara Johannessen / SCANPIX

The old 100- and 200-kroner banknotes will be void as payment from 31st May. According to Norges Bank there are still 20 million of these banknotes in circulation.

 

The old banknotes, with motifs of Kristian Birkeland and Kirsten Flagstad on them, will go out of production exactly one year after the new banknotes came out, NRK reports.

Figures from Norges Bank estimate that 10.7 million of the old 100-kroner notes, and 9 million of the old 200-kroner notes are still being used.

“Currently, nearly 70 percent of the old 200-kroner banknotes have been exchanged, while of the 100-kroner notes the figure is under 50 percent. We expect these percentages to increase before 31st May,” says Leif Veggum, director of cash funds in Norges Bank.

Although the old banknotes from 31st May can not be used as a means of payment in stores (some stores will accept the notes over a transitional period), one still has plenty of time to dig them out from under the mattress. Norges Bank will exchange old banknotes for the next ten years.

The old 50, 500 and 1000 bills are still valid. They will be invalid for one year after the new banknotes arrive. The new 50 and 500 notes will arrive this year, while the new 1000 note will be in 2019.

 

© NTB scanpix / #Norway Today

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