The Bank of Mauritius (‘Bank’) announces the issue of a polymer banknote of Rs2000 denomination.
The polymer Rs2000 denomination banknote is an upgrade of the existing Rs2000 paper banknote. It has almost the same design as the paper banknote with, however, enhanced security features using new security technology.
The Bank will start the issue of the upgraded Rs2000 banknote on polymer substrate with improved security features as from today, 5th of December 2018. At the same time, the Bank will begin withdrawing from circulation the current Rs2000 paper banknote. The current Rs2000 paper banknote will cease to be legal tender as from 1st of February 2019
The public is therefore advised to exchange existing paper banknotes of Rs2000 denomination issued by the Bank of Mauritius against the Rs2000 polymer banknotes at any commercial bank or branch thereof until 31st of January 2019. Rs2000 paper banknotes which are still in circulation on or after 1st of February 2019 may be exchanged only at the counter of the Bank of Mauritius.
Holders of Rs2000 paper banknote(s) will be required to produce a proof of identity when effecting an exchange of the paper banknote. They may alternatively opt to deposit such banknote(s) into their bank account. The exchange will, however, be subject to the statutory limit, currently set at Rs500,000, regarding payment in cash. Split transactions will also be closely monitored by banks. Additionally, banks may, irrespective of the amount and if the circumstances so warrant, request proof of the source of fund from the customer.
The public is further informed that banks will proceed to a verification of the banknotes being exchanged or deposited in bank accounts. Any counterfeit banknote will forthwith be reported to the Police.
The Bank is working closely with banks and cash handlers to ensure a smooth transition to the Rs2000 polymer banknotes.