Do you know you can exchange a destroyed note or coin in Kenya? Central Bank of Kenya has indicated the procedure of exchanging torn, mutilated or destroyed notes, and below is the procedure:
The Central Bank exchanges mutilated currency for members of public. Mutilated currency notes take various forms e.g. burnt notes, damage of currency by chemicals etc. The currency should meet the following requirements:
- Not deliberately mutilated
- Currency must be genuine
- More than half and continuous
- Bear at least one complete serial number
In case of coins, the inner part of coin for coins with outer bordering rings i.e. 10/=, 20/= and 40/=. The Bank is not obliged to exchange any damaged currency. Any banknotes and coins presented for exchange will be carefully examined by the Bank. The Bank may seek to know from the presenter of the damaged currency as to how the notes and coins were damaged.
No counterfeit currency will be exchanged for any value whatsoever.