How will the new currency be distributed outside the U.S.? Which banks will be first to receive them, and what criteria were used for selecting these banks?
The Federal Reserve System distributes all United States currency through its twelve regional Reserve Banks and customer banks both here in the United States and abroad. Banks, in turn, distribute currency to their customers. Federal Reserve Banks generally issue previously circulated currency before new currency, removing worn-out or otherwise unfit bills from circulation as they receive them. However, for a brief period (two to three weeks) after the introduction of the new currency, Federal Reserve Banks issue only the new design to all customer banks. After this brief introductory period, the Federal Reserve will resume issuing previously circulated bills on a first-in, first-out basis. The new $5 bill was issued on March 13, 2008. Like the $10, $20 and $50 bills, the introduction of the new $5 bill will be a gradual process. It will take several years before new-design $5 bills outnumber the old-design in Federal Reserve Bank inventories. Eventually, Federal Reserve Banks will des
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