The president of a leading retailers association, FECODERD, has requested that the monetary authorities hold off on the retirement of marked paper money. Gilberto Luna, spokesman for the FECODERD, told reporters that most Dominicans do not realize that there is a limit on the usage of money that has been defaced or marked. The major banks and commercial establishments are producing warnings in the print media as well as on TV and radio, about the use of bills that have been written on, stapled, stamped or marked in any way. The Central Bank has advised the measure will be in effect as of 24 January. The Central Bank has given businesses until 31 January to deposit these bills. After that date, such bills will not be accepted as legal tender, thus putting the onus of verifying the bills on individual users. The measure was taken in part to reduce the high rate of deterioration of the bills and the general practice of using currency as notepaper.
