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South Africa to shred 3.6 million R100 notes

by AFP
20 May 2012 at 17:06hrs | Views
Johannesburg - The Reserve Bank of South Africa has to shred more than 3.6 million R100 notes after a botch-up with serial numbers, the Sunday Times reports.

The bills, printed in Sweden, have the same serial numbers as a batch printed locally, the report said.

In addition to that, the notes printed in Sweden are neither the right colour nor size - coming up short by about a millimetre - which poses problems for automated counting machines.

South Africa is redesigning all of its bank notes this year to bear a portrait of first post-apartheid president Nelson Mandela.

The backs of the new bills will retain pictures of the Big Five.

The R100 note has a buffalo on the back.

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Source - AFP