The National Bank of Ethiopia says new banknotes worth 2.9bn Ethiopian birr ($80m; £62m) have been printed and are ready for distribution, according to Borkena website.
Those intending to change their old banknotes will be expected to appear in person and present their identity cards, the website reports.
The bank's governor, Yinager Dessie, is quoted as saying that 3.7bn birr was spent on printing the new banknotes.
The new notes were unveiled on Monday and are meant to curb financing of illegal activities and corruption.
They have enhanced security features to combat the production of counterfeits.
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