Commercial Banks Approved to Charge Fee for Exchange of Old-Design Dollars
The National Bank of the Kyrgyz Republic Extends Deadline for Export of Worn-out U.S. Dollars
Bishkek – 21:31, 25 March 2025
The National Bank of the Kyrgyz Republic has made amendments to a decree regarding the export and exchange of worn-out U.S. dollars by commercial banks. The central bank of the country announced that the temporary permission for the export of such bills has been extended until September 1, 2025. The original deadline was set to expire on April 1, 2025.
The decision to extend the deadline for the export of worn-out dollars will enable commercial banks in Kyrgyzstan to continue working on optimizing their currency structure and disposing of worn-out banknotes. In addition, a new regulation now allows commercial banks, exchange offices, and other authorized organizations to set fees for exchange transactions involving old-design U.S. dollars. These refer to “white” dollars, banknotes issued before 2006 that are still considered legal tender despite their age.
Effective May 1, 2025, financial institutions will have the authority to charge a fee for accepting and exchanging old-design dollars. The National Bank of the Kyrgyz Republic stresses that the fee amount must be justified and consider the expenses related to exporting these banknotes outside the country.
These amendments aim to streamline the exchange process and ensure the efficient circulation of currency in the Kyrgyz Republic. It is important for commercial banks to adhere to the new regulations to facilitate smoother transactions for customers and maintain transparency in the financial sector.
