Tanzania to replace 500-shilling note with coin by December 2012
Jul 05, 2012 04:14 PM Category: Africa
According to an article on DailyNews dated 1 March 2012, the Bank of Tanzania plans to replace 500-shilling (US$0.30) notes with coins because the latter lasts much longer in circulation.
The article also contains new details on plans of the East African Community (www.eac.int)—Burundi, Kenya, Rwanda, Tanzania, and Uganda—to introduce a common currency, the new East African shilling.
According to an article on DailyNews dated 6 July 2012, the bank now expects that the notes will be replaced by coins by December 2012.