As of Thursday, the National Bank of the Republic of Macedonia (NBRM) will release banknotes of MKD 200 and MKD 2,000 and withdraw the MKD 5,000 banknote from circulation.
NBRM has said the issuance of these banknotes results from the perceived need for rebalancing of the existing structure of banknotes in circulation.
"The existing structure of banknotes, introduced in 1996, has not been altered until now and the decision for introduction of these two banknotes has been passed on the basis of research and analysis", added the central bank.
NBRM said the MKD 5,000 banknote is eliminated because of its failure to be widely accepted by the public due to its high nominal value and its limited use in trade and daily transactions.
Commercial banks will replace MKD 5,000 banknotes from December 15, 2016 to February 28, 2017. As of March 1, 2017, they will be replaced only in NBRM.
