The Edition


Maldives releases new MVR 5 cash note

Fathmath Shaahunaz
10 August 2017, MVT 15:49
MMA Governor Dr Azeema Adam (L) at the launching of the new MVR 5 polymer cash note. PHOTO: HUSSAIN WAHEED/MIHAARU
Fathmath Shaahunaz
10 August 2017, MVT 15:49

The Maldives released the new polymer MVR 5 currency note into public circulation early Thursday.

The cash note was officially released by Maldives Monetary Authority (MMA)’s Governor Dr Azeema Adam at a small ceremony held at the central bank on Thursday morning.

An official of MMA stated that the authority is holding activities in the Local Market throughout the day to convert the old MVR 5 currency notes to the new ones.

The old cash notes can still be used until the end of this year.

The design of the new MVR 5 currency note is based on the concept of communication and society. The front side of the note depicts social relationships via cultural activities and football, the most popular sport of the Maldives. The illustration of the faceless footballer is from a famous photograph of local football legend Ali “Dhagandey” Ashfaq. The other side features a conch shell, which was traditionally used as a form of communication in olden times.

The new note is designed by Ali Nashaath, who is the mastermind behind “Ran Dhiha Faheh” (golden five decades), the Maldivian currency series that was released in January 2016 to mark fifty years of independence in the island nation. The MVR 5 note also features the special security features of the Ran Dhiha Faheh series, including an additional aspect with its value shown on the clear window in the note.

The Ran Dhiha Faheh currency series which was released last year feature the notes MVR 10, 20, 50, 100, 500 and the brand new MVR 1,000 note.