Branch of Bank of China will destroy a part of the cash due to coronavirus

the Office of Chinese Bank in Guangzhou will destroy all the banknotes collected in hospitals, food markets and public transport, to ensure the security of cash transactions during the outbreak of coronavirus, reports the South China Morning Post.

Financial news Agency Caixin reported earlier that officials in the Department of the people’s Bank of China (PBOC) in the southern city ordered to remove all paper money from sectors exposed to coronavirus, to further destruction.

Commercial banks in the province should withdraw banknotes in these sectors, disinfect and transfer them to the NSC.

the order came after the Deputy Governor of the Central Bank fan Yifei said before, from the 17th of January across the country was extended 600 billion yuan (85.6 billion U.S. dollars), including 4 billion yuan (572 million US dollars) the new banknotes were sent to Wuhan, which became the center of a coronavirus outbreak before the celebration of the Lunar new year.

the Central Bank said it will use high temperature or ultraviolet radiation for disinfection of cash, in addition, the Central Bank will keep the currency more than 14 days before she gets back into circulation.

In the period from 3 to 13 February in the southern province of Guangdong, excluding Shenzhen, was sent about 3 billion yuan of new banknotes, and 7.8 billion yuan was withdrawn from circulation.

Central banks regularly collect and destroy old coins and banknotes in exchange for a new one. This does not affect the money supply is done to maintain a healthy number of used currencies.

fan also said that China had pledged additional funds for banks, encouraging them to help manufacturers and businesses to cope with the challenges of a trade war between the US and China and the worst crisis in health over the past two decades.