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The circulation period of these parts is extended until November 30, 2018, said the BCM in a statement received Saturday at APA, stating that "all commercial transactions can be settled with the old coins parallel to the new range until the above-mentioned date. "
The Bank justified this extension by" the observed tendency which is characterized by a weak recovery of the low denominations of the old range, in particular the coins of 10, 20 and 50 Ouguiya. "
These exhibits, she explained, are mainly held by low-income populations, and the cessation of their circulation would affect these vulnerable segments of the population and eventually lead to an unjustified increase in the rate.
The communiqué recalled that the BCM launched, on 1 January 2018, a monetary reform aimed primarily at modernizing means of payment and an improvement of fiduciary management.
The reform in question consists of two major components: the generalization of the polymer on all the banknotes and the change of base of the national currency, Ouguiya , from 10 to 1.
This last component, whose advantages are many, according to the Bank, makes it possible to value the coins by rendering them their monetary utility and by allowing them to play their full part in the fight against the Disguised Inflation
A mid-term review of the reform has shown very encouraging results, including the recovery of more than 96% of the circulating mass of the old range, a considerable increase in banks and the opening of more than 15,000 new bank accounts.
MOO / te / APA
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