BADLY damaged, dirty or even torn United States dollar notes remain valid for all transactions and can be exchanged as legal tender.
This comes as some businesses and individuals have been rejecting soiled or older US bank notes, an unpopular practice that has inconvenienced the public.
However, in a notice posted on its official Twitter handle yesterday, the US embassy said damaged notes, as long as they are more than half of the bill, with recognisable security features remain tradable because they are not mutilated currency.
“Any badly soiled, dirty, defaced, disintegrated, limp, torn, or worn out currency note that is clearly more than one-half of the original note, and does not require special examination to determine its value, is not considered mutilated,” reads the statement.
Mutilated currency is classified “as currency which has been severely damaged — to the extent that its value is questionable, or security features are missing”.
Some retailers have been rejecting soiled US dollar notes, which are still in use as the Government slowly de-dollarises, all the while allowing the use of free funds in the economy as well as duty payments.
In line with the Government’s position, most of the country’s major retailers are quoting their prices both in local and US dollars.