New currency notes goes into circulation

The new “Golden 50” currency notes have replaced the previously used – 33 year-old currency notes. The new currency notes were released into circulation by President Abdulla Yameen Abdul Gayoom on Tuesday.

Maldives Monetary Authority (MMA) has said that the new currency notes will be available from ATMs.

The MVR 10, MVR 20, MVR 50, MVR 100, MVR 500 and MVR 1,000 notes released to circulation on Tuesday are drastically different from the notes previously used, and not just in design.

While the new currency notes show artwork of the country’s natural beauty and individuality, and is printed on polymer paper; it also features a drastic upgrade in security features.

This includes clear window, hidden numbers, masked letters, iridescent patterns, spark ink and textile dots.

The previous currency notes can be used alongside the new currency notes until May. And the old currency notes can be exchanged for the new currency notes from MMA and other banks for the next 5 years.

The new currency notes are signed by MMA Governor Dr. Azeema Adam – the first time in Maldivian history for a woman to sign currency notes.