The Maldives Monetary Authority (MMA) will discontinue circulation current MVR 5 notes and introduce a polymer banknote equivalent as per the new note series that was introduced in 2016.
The note will be released on Wednesday, 10th May.
The MVR five banknote is designed by Abdulla Nashath, the artist who designed the notes for the ‘Ran Dhiha Faheh’ note series, which was introduced on Maldives’ 50th year of independence after discontinuing bank notes that had in use for decades.
The Ran Dhiha Faheh note series – which is now the official bank note in circulation – has notes for MVR 1,000, 500, 100, 50, 20, and 10.
The central bank has also announced that it would discontinue the current two rufiyaa coin and introduce a replacement made from metal that is less weighty.
