In a month, notes for 4.8 billion can be rejected in the stores

Money.Photo: Terje Pedersen / NTB scanpix

Friday October 18th marks one year since the new 50 and 500 notes came into use. Then the old banknotes can be refused as a means of payment, but are still exchanged at the bank.

According to VG, 50- and 500-kroner banknotes worth around NOK 4.8 billion are still in circulation for a few more weeks. It is distributed among 8.4 million 500-kroner banknotes, worth a total of NOK 4.2 billion, and 12.5 million 50-kroner banknotes, worth around NOK 600 million.

This is according to figures E24 has taken from Norges Bank, which has the following advice for people with old notes:

Use the old 50 and 500 kroner banknotes or deposit them into your account by October 18th.

Should they be deposited in the bank or exchanged, it is not very urgent. The banknotes are exchanged free of charge at Norges Bank for at least ten years. This is done by turning up at one of Norges Bank’s deposits or by sending the notes to the central bank.

Norges Bank is also introducing a new banknote in the ocean-series, the 1,000-kroner banknote, in the fourth quarter of this year.

“The wave tells us about the ocean as a counter-force we care about, and about a driving force that brings us forward,” Norges Bank writes of the new motive.

© NTB Scanpix / #Norway Today

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