16 Sep 2002

Samoan Central Bank offers cheap wallets to keep notes flat

10:54 am on 16 September 2002

Samoa's Central Bank is offering wallets for sale at a cheap price in its latest attempt to provide better care of currency notes.

The bank believes that putting notes in a flat position as is provided by wallets slow down wear and tear from constant handling and folding.

The wallets a matter of a few cents each.

The initiative has been followed by the country's two commercial banks, ANZ and Westpac, who are offering to sell wallets at their branches.

Wallet use is not common in Samoa because of the cost, and notes are known to be wrapped around coins and stored in pouches.

The Central Bank periodically urges greater care of notes and in its latest notice on the subject, encourages the public to make use of the wallets to store the currency "in a flat manner".