Bank of England is destroying an R800 billion mountain of cash
The Bank of England is destroying R800 billion worth of £20 notes.
It is replacing the paper notes with new ones made from a polymer.
The old notes are being recycled and used as compost.
It’s the largest cash replacement in UK history.
The Bank of England used to, until 1990, burn old notes in a furnace to heat its building in London.
Africa Melane interviewed UK correspondent Gavin Grey.
They are going to compost them! Gardeners could end up spreading out millions of pounds on their gardens… It is quite a terrific thing… Two billion paper notes!Gavin Grey, UK correspondent
The new note is a rather smart effort featuring the well-known artist JMW Turner.Gavin Grey, UK correspondent
Listen to the interview in the audio below [skip to 8:07].
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