Government introduces new bank notes

(7 Oct 2002)

7 October 2002
1. Bundles of old Afghani notes at currency exchange counter
2. Men counting old notes
3. Various of men exchanging old money for new
4. Various close ups of bundles of new money in boxes

6 October 2002
5. Various of Karzai at front of press conference at Afghan Central Bank, with prayers being said before starting
6. Various of guards
7. SOUNDBITE (Pashtu) Hamid Karzai, Afghan President:
"This is an important issue for Afghan independence, for Afghan pride, for Afghan unity and for Afghan political and economic development. The Afghan nation should have a single consistent currency, which will have a steady value."
8. People listening to Karzai
9. Samples of new currency on wall display
10. SOUNDBITE (Pashtu) Hamid Karzai, Afghan President:
"From many points of view this is important. First of all it will bring national pride. And it will bring many benefits to the Afghan people. For an example, to buy a loaf of bread you won't need to bring this much money, or a bag of money, but only bring a little and that's enough to make one's purchase."
11. Various inside room
12. SOUNDBITE (English) Ashraf Ghani, Afghan Minister of Finance:
"We are also committed to the reform of the customs and the banking system, rapidly and quickly - the way we have achieved the reform of the currency."
13. Wide of press conference
14. Man holding up new currency
15. Various of new currency being handled by money changers
16. Close up of new currency in box
17. Various of men at money exchange
19. Man constructing machine that will be used to punch holes in old notes after they have been exchanged
18. Exterior of Afghan Central Bank

STORYLINE:

New banknotes were introduced in Afghanistan on Monday in an attempt by Hamid Karzai's government to improve monetary stability and boost economic growth.

The new money will make simple transactions that once required huge amounts of cash much easier to carry out.

The new currency will also make it possible for people to use afghanis instead of US dollars to buy or sell high-priced goods that would have required truckloads of old notes.

The redenominated currency will include 10, 20, 50, 100, 500 and 1,000 afghani notes. One new afghani will be worth 1,000 old ones.

The government says the 15 trillion old notes currently in circulation will be burned after they are handed over, and about 27 billion new afghanis will be introduced.

Holes punching machines are being used to put the notes out of use in the short term before they can be destroyed.

The new notes, printed in Germany, will be harder to counterfeit, the government says.

Pakistan rupees, US dollars and three different kinds of local afghanis are now used in Afghanistan.

The old afghani has been worth between 40,000 to 46,000 to the dollar in the last several months.

Residents will be able to exchange their money at dozens of licensed exchange centres across Afghanistan until December 7.

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