The Chinese government's decision to destroy the currency note in the wake of the Corona virus

Beijing, Ta. 18 February 2020 Tuesday

The terror of the Corona virus has increased in China so much that the government has decided to destroy thousands of billions of currency notes. The virus is spreading through these notes. The notes are constantly flowing from one hand to the other. So this concern is natural.

The Chinese government has decided that all currency notes have to be destroyed at any cost to prevent the virus from spreading. The chief manager of Guangzhou Branch of China's Central Bank said that all the notes that were present from the market will be destroyed. On the other hand, the People's Bank of China has ordered that all notes be destroyed.

How many currency notes will be destroyed?

China's central bank deputy governor Fan Yifai said that since January 17, the central bank has issued new notes worth 600 billion yuan, of which 4 billion yuan (about Rs 28,581 crore) was sent to Wuhan only.

It is noteworthy that the Corona virus spreads from Wuhan and is the most infected people there. Market-related informants say notes worth about Rs84,321 crore have been sent to Wuhan and southern states of China. All these notes will be destroyed.

The central bank says that only the notes that are already in circulation in the market will be destroyed. The note sent to the market in February will be refunded. It will then be deposited and cleansed by ultraviolet rays. The note will be kept in quarantine for 14 days. He will then be examined and protected by the virus and sent to the market.

Among these things, worries about the note shortage are also compounded by the virus terrorists. People say that destroying such large amounts of notes could affect the market and that they too may face problems in buying and selling.

However, the bank's managers and government officials say they cannot take any risks. It is necessary to destroy the notes to protect the people. Later a new currency note will be issued.