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MNB sets date for old HUF 10,000 bill withdrawal

The National Bank of Hungary (MNB) will withdraw old HUF 10,000 banknotes at the end of this year, a decree published in the latest issue of the official gazette Magyar Közlöny shows, state news agency MTI reported.

The HUF 10,000 bill will be the last of the pre-upgrade banknotes (pictured) to be withdrawn from circulation.

The MNB upgraded the security features on the HUF 10,000 bill late in 2014, but put off a decision setting a date for the withdrawal of the old bills.

After the old bills are withdrawn from circulation on December 31, 2019, they may still be exchanged, free of charge, at banks and post offices for a period of three years, and for a period of 20 years at the central bank itself.

The MNB noted on its website that the upgraded HUF 10,000 bills account for 86% of all HUF 10,000 banknotes in circulation.

The MNB launched a program to upgrade Hungarian banknotes in 2014. The last bill to be upgraded, the HUF 500 banknote, entered into circulation on February 1, 2019.