Maldives Monetary Authority (MMA) dispelled recent rumours that counterfeit notes of MVR 500 were being circulated.
Talks of currency forgery began with a photograph of a discoloured MVR 500 note that was shared on social media.
MMA’s spokesperson Mohamed Nasih stated that the note in question was taken to the central bank and scrutinized, which revealed that it was not counterfeit.
According to Nasih, the note was faded due to a chemical used to remove some discolouration. However he assured the legitimacy of the note.
He requested anyone with suspicions regarding counterfeit cash to report to MMA as soon as possible.
The current Maldivian currency is the ‘Ran Dhiha Faheh’ series of MVR 5, 10, 20, 50, 100, 500 and 1,000, which was released in January 2016 to commemorate 50 years of independence.
It is the first Maldivian currency series to be printed on polymer paper, featuring a new design and special security features including but not limited to dual colour under ultraviolet light, iridescent patterns, masked letters, hidden numbers, clear windows and tactile dots.