The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

Scandinavia Today / Norway



Norwegians still have millions in old bank notes stored somewhere though central bank has rejected accepting new exchanges.

Sunday, 06 January 2013

Norwegian banknotes worth an equivalent to Skr638 million is reported to still being kept somewhere unredeemed or unswapped to newer notes after they were taken out of service at the end of last year.

This has to do with banknotes within the series issued between 1977 and 2001. The Norwegian central bank, Norges Bank, believes that much of the money is likely being saved in safe-deposit boxes or home of people, such as older people who are not very active.

"There are many frugal and poor pensioners who put their last money in their hiding places. Often ones find worthless money - sometimes hundreds of thousands of Krona, "says Kjetil Kvist coin dealer in Oslo, reports Swedish business daily Dagens Industri.

Although some may turn out to be of great value to collectors though they might look worthless in the eyes of novice.
Norges Bank announces that it will no longer accept the old notes, unless there are very good reasons for it.
By Team

What do you think about this article? Did you spot an error? Please make a comments and join our network

Print Friendly and PDF