What do you mean with “replacing banknotes”? Issuing new banknotes isn’t just a fingersnap, its a rolling process and old notes are always valid and can be replaced later down the line at the central bank.
… and can be replaced later down the line at the central bank.
I think there are countries in the world where that is not the case. India maybe 2 years ago removed one of their large denomination bills with like a week’s notice to get it changed and after that you were SOL. I think (but am not sure) old Sterling notes may also no longer be more than paper.
What do you mean with “replacing banknotes”? Issuing new banknotes isn’t just a fingersnap, its a rolling process and old notes are always valid and can be replaced later down the line at the central bank.
Or do you mean outright changing the currency?
I think there are countries in the world where that is not the case. India maybe 2 years ago removed one of their large denomination bills with like a week’s notice to get it changed and after that you were SOL. I think (but am not sure) old Sterling notes may also no longer be more than paper.
Yeah, but that’s India…