“We want to make it clear that we are not investigating the circulation of a fake R500 note, but the origin of the hoax email bearing the image of a R500 note,” said Mzimkhulu Twala Divisional Head of currency planning at the Reserve Bank.
South Africa has a family of five bank notes and the R200 note remains the highest denomination.
According to Twala the bank is not planning to issue any new notes, including R500 notes, in the near future.
He said every time before they issue new notes or coins, they embark on a public campaign to inform South Africans about the new changes.
“We want to reiterate that in our country a R500 note does not exist,” he said.
The public is encouraged to take note of the security features on the South African bank notes.
Article published courtesy of BuaNews
