‘All banknotes and coins that have not been demonetized are still valid,’ says CBS |17 July 2017

Amid reports and concerns expressed by members of the public that some retailers and businesses are refusing to accept 50, 25 and 10 Rupee banknotes of the previous series in exchange for goods and services, the Central Bank of Seychelles (CBS) is advising the public that these banknotes are still valid and should not be refused.

“Only the 100 and 500 Rupee banknotes of the previous series should no longer be accepted as legal tender,” said Governor Caroline Abel.

She further stated that “all 50, 25 and 10 Rupee banknotes and all coins of the previous series are still valid and should be accepted for cash transactions, alongside the new family of banknotes and coins”.

The CBS is calling on members of the public to report any incident where legal tender currency are refused, so that the matter can be taken up with the concerned parties.