IN SHORT: Posts on social media in Nigeria and South Africa claim that US dollar notes printed before 2021 will be out of use from January 2023. But there is absolutely no evidence for this.
“Any US dollar notes below year 2021 , will not be acceptable from January 2023 - US Govt,” one says.
These posts have mainly been posted on the platform in Nigeria, with some also shared in South Africa.
Nigeria's currency is the naira, introduced in 1973, to replace the Nigerian pound.
But is the claim true? Will any US dollar note introduced before 2021 not be accepted from January 2023? We checked.
No evidence that pre-’21 dollar notes will be out of circulation
Currently the seven denominations of paper currency issued in the US, according to the Federal Reserve Board (the Fed), are $1, $2, $5, $10, $20, $50 and $100 notes.
Graphic of images of the notes in circulation from the US Currency Education Program
According to the Fed, the lifespan of paper money in the country depends on its condition.
Notes in good condition continue to circulate but those in very bad condition are taken out of circulation and destroyed, the Fed says.
Below is a table of the estimated lifespan of the current circulating US dollar notes, as of 2018:
Will all these notes be rejected from January 2023?
Such a dramatic change in the US currency would also make news headlines across the world, especially since the US dollar is used, at least as a fixed exchange rate, in many countries outside the US.
The claim is false.
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