What will happen to the old $100 bills?

In social media, information has spread that many countries are gradually stopping the acceptance of "old" 100-dollar bills. In the case of Uzbekistan, the Central Bank has denied these claims, stating that the old 100-dollar notes maintain their status as legal tender.

However, there is growing concern among the population. Many customers refuse to accept such notes in commercial banks, and sellers of household appliances, electronics, and phones (where prices are often listed in dollars) are reluctant to accept them, demanding discounts. What is happening?

Fake Dollars in Turkey

At the end of November 2024, an investigation began in Turkey regarding the circulation of counterfeit dollars. Reports indicated that counterfeit bills totaling 600 million dollars had been smuggled into the country. As a result, exchange offices and banks temporarily suspended operations with old 50- and 100-dollar bills.

According to experts, the majority of the counterfeit dollars arrived in Turkey from Syria, Iran, and the Balkans. The first operation involving fake banknotes was recorded in the city of Gaziantep, near the Syrian border. Counterfeits were also found in popular tourist centers such as Antalya, Izmir, Istanbul, and Ankara.

The Situation in Central Asia

By mid-December, Kazakhstan residents began to complain that banks were accepting old dollar bills only with a commission.

Kyrgyzstan also faced issues with "white" dollars. Reports indicate that banks have accumulated a large number of old bills as clients refuse to purchase them.

Amidst this, it was revealed in Uzbekistan that some banks classify 1996 and older dollar bills as damaged notes and impose additional fees for their acceptance.

The Central Bank explained in a comment to Kun.uz that the fee is related to banks' costs for transportation, correspondent, and foreign bank payments. Each bank determines the fee independently.

Do Old Dollar Bills Have an Expiration Date?

According to RBC , there is no difference between old and new bills, and their validity period is unlimited. Under U.S. law, all federal reserve notes issued since 1914 have equal value. Even damaged bills can be exchanged for new ones at U.S. banks or the Federal Reserve.

The U.S. dollar is regularly updated to combat counterfeiting, including design changes and additional security features. For example, the most common 100-dollar bill has been in circulation since 1862 and has undergone multiple updates. From 1996 to 2006, "white" dollars were in circulation, and since 2004, bluish bills have been issued. The latest design was approved in 2013, featuring a security ribbon, an inkwell image, and a textured pattern.

Ban on Old Dollars in Other Countries

Although there is no official ban on the use of old bills, travelers report instances where shops and exchange offices in certain countries refused to accept them. This applies to popular tourist destinations such as Turkey, Morocco, Thailand, Japan, Vietnam, Seychelles, Egypt, Sri Lanka, South Africa, Pakistan, Kenya, India, and Tanzania.

The reason may be that it is easier to counterfeit "white" dollars than "blue" ones. Therefore, travelers are advised to carry bills of the new design.