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Issue and Redemption of Currency
The Central Bank is the only institution in the country which is authorised to issue and redeem currency notes and coins. This involves:
- designing the currency;
- maintaining integrity of the currency; and
- providing an adequate supply of currency to satisfy the needs of the public.
Design of the currency
The Bank, with the approval of the Ministry of Finance, takes decisions on the denomination, the substrate and the characteristics of notes and coins. The Bank engages the services of reputable printers and minters to produce these notes and coins.
Maintenance of the currency's integrity
Security features are key to preserving the integrity of the country’s currency notes. Some of the security features used include holograms, security threads, watermarks and micro printing.
Provision of an adequate supply of currency
In order to maintain a sufficient supply of notes and coins to meet the public’s demands, the Bank undertakes regular stock assessments and projections of currency needs.