Vladimír Urbánek (Kurzy.cz)
Finance  |  October 08, 2010 10:49:23

CNB: Withdrawal of banknotes worth CZK 50

Padesátikorunovou bill will be from 1 April 2011 to pay for goods and services. The end of banknotes in nominal value of 50 crowns Bank Board decided the Czech National Bank. The banknote money now used to fully replace padesátikorunová coin.

Invalid banknote with a portrait of Agnes Czech on the face will be from 1 April 2011 to 31 exchange in March 2012 in the branch network of commercial banks and the Czech National Bank. From 1 April 2012 to 31 March 2017 will be 50 CZK banknotes change, only the Czech National Bank, at all its seven branches in Prague, Plzen, Hradec Kralove, Brno, Ostrava, Czech Budejovice and Usti nad Labem.

Czech National Bank is replaced padesátikorunové banknotes circulating coins gradually since 2006. Their number in circulation declined since 2005 from 40 million to 25 million by the end of 2009, while the number of coins in circulation padesátikorunových the same period increased from 5 million unitsmore than nine (47 million).

  "The main motivation for the board to decide on the termination of padesátikorunových banknotes were lower costs for ensuring the smooth circulation of money. Coins have compared notes with several times higher service life, and reduce direct costs associated with the central bank's emission money, "said board member Pavel Rezabek CNB.

Fifty representative money, as money became part of the circulation shortly after the establishment of independent Czechoslovakia in 1919. Later in 1929 - already a bill - circulated in various forms to this day. The longest is kept in circulation padesátikorunová banknote issued in 1965, which applied until 1991. The main motive of the Red Army and partisan character of the author Vaclav Fiala. Numizmatici you value most representative money from the First Republic, especially the representative money 1919 and The 1922nd

Are in circulation now   padesátikorunové banknote design 1994 and The 1997th   The CNB is now possible to exchange old banknotes padesátikorunové models - model 1993, which stopped   pay in 2007. His replacement will be possible to 31 March 2017 only to branches of the Czech National Bank.

Mark Petruš

none; PADDING-TOP: 0in; mso-border-bottom-alt: solid windowtext .75 pt; mso-padding-alt: 0in 0in 1.0pt 0 cm "class = MsoNormal> Communications Director and spokesman of the CNB

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