Central Bank of BiH Destroyed 408 Million KM

(Patria) - The Central Bank of BiH destroyed over 10 million banknotes in 11 months this year, with a total value exceeding 400 million KM, as well as nearly 12,000 coins, worth more than 22,000 KM.

As specified by the Central Bank of BiH for Nezavisne novine, a total of 10,188,745 banknotes were destroyed, with a total value of 408,910,820 KM, which is 742,960 more banknotes compared to the same period last year.

"In terms of the value of destroyed banknotes, 1,424,660 KM less was destroyed," stated the Central Bank of BiH.

Among the destroyed banknotes, the majority are worn-out ones, meaning they have become deteriorated due to use, significantly reducing the quality of paper and color, making them unsuitable for further circulation.

"On the other hand, damaged banknotes are those with various types of damage, such as banknotes torn into two or more pieces and glued, banknotes missing one or more parts, drawn-on banknotes, banknotes damaged by grease, paint, or those that are burnt, scorched, corroded, and so on," explained the CBBiH.

In addition to banknotes, coins were also destroyed, specifically 11,841 coins, with a total value of 22,258.75 KM. Compared to the same period last year, 154 fewer coins were destroyed in quantity, while the value of destroyed coins increased by 6,818.40 KM.

"Damaged coins are those that are deformed, chipped, corroded, meaning they have lost their original shape," stated the Central Bank.

They further explained that they withdraw unsuitable currency from circulation, destroy it, and replace it with banknotes and coins from the Central Bank.

"The Decision on handling banknotes and coins of the convertible mark that are unsuitable for circulation and damaged banknotes of effective foreign currency establishes the characteristics and manner of handling banknotes and coins of the convertible mark that are unsuitable for circulation and damaged banknotes of effective foreign currency," announced the Central Bank.

They added that through treasuries, their main units, and branches, in regular operations, they receive KM cash that is unsuitable for circulation from commercial banks, and such received cash is machine-inspected in its entirety at the Central Bank.

"The Central Bank also receives damaged KM banknotes and coins from individuals who submit a request for exchange in case of significant damage to KM banknotes and coins, provided that the conditions for exchange are met. Finally, currency unsuitable for circulation is destroyed using highly sophisticated machine systems," explained the CBBiH.