The new coins were officially introduced into circulation by central bank Governor Azeema Adam at a conference on Wednesday.
The authority’s Assistant Executive Director Muna Ibrahim said that the new coins were made of less heavy metals and are smaller and lighter than the MVR 1 coins currently in circulation.
The coin is designed into two rings, an outer one than encompasses the inner – in alternating colours of gold and silver. The outer ring is made from nickel brass while inner is nickel-plated steel.
The 25.20-millimeter coin weighs 6.20 grams.