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MMA restocks MVR50 notes

Mohamed Rehan
26 September 2022, MVT 12:09
Wads of local currency notes-- Photo: Mihaaru
Mohamed Rehan
26 September 2022, MVT 12:09

Maldives Monetary Authority (MMA) reports it has restocked the MVR 50 notes under 'Ran Dhiha Faheh' currency series.

The authority has restocked the currency note, after the notes in central bank's current stock dropped. MMA on Sunday, September 25, confirms acquiring the newly minted notes, which have already been restocked in the central bank's treasury.

Maldives central bank however, did not disclose the exact quantity of the freshly minted currency notes.

Central bank dropped circulation of conventional paper currency notes in favor of contemporary polymer notes in 2015, coinciding with the island nation's 50th independence day. The new series consists of currency notes of MVR 5, 10, 20, 50, 100, 500 and the previously non-existing MVR 1,000 currency note.

Though central bank dropped minting new paper currency notes in 2015, the entirety of the paper notes came to a complete stop only last year.

Earlier in July 2022, Maldives central bank released the official currency sign for Maldivian Rufiyaa. The next batch of currency mints will bear the said currency sign, according to MMA.

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