WEAR ON NOTES
20m Destroyed Since Change (N.Z., Press Association) WELLINGTON, Feb. 7. Since the change to decimal currency last July the Reserve Bank has destroyed 20,000,u00 decimal notes, worth $79,500,000. A Reserve Bank official said today that banks were constantly culling tattered decimal notes and replacing them with new notes according to requirements. The decimal notes were of the same composition as the old irrency notes, and had similar life expectancies, the official said. “The old 10s note used to last about seven or eight months. The dollar note has about the same life. The notes destroyed have been a mixture of everything but because they are used more often the $1 notes have made up a good proportion.”
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Bibliographic details
Press, Volume CVIII, Issue 31598, 8 February 1968, Page 22
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120WEAR ON NOTES Press, Volume CVIII, Issue 31598, 8 February 1968, Page 22
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