[Photo: SUPPLIED]
The Reserve Bank of Fiji is advising the public that following the introduction of new polymer banknotes from January 2nd, the old flora and fauna banknotes have been gazetted for demonetisation effective 01 January 2027.
Accordingly, businesses will not be obliged to accept old banknotes as payment for goods and services after 31 December 2026.
RBF Governor Ariff Ali highlighted that as of 31 July 2026, 72.3% of old banknotes in circulation have been recalled and thanked the public for their support in facilitating a smooth transition to the new polymer banknotes.
Ali explained that recalling old banknotes is essential for central banks to avoid public confusion, maintain banknote quality, and mitigate counterfeiting.
The public is reminded that after 31 December, only the RBF will give value for old banknotes.
