New stock of MVR 5 notes arrives as supplies run low

The Maldives Monetary Authority (MMA) said a new stock of MVR 5 notes arrived today as supplies were running low.

The MMA said the new stock of MVR 5 notes received today was the first reprinted batch brought in since the note was introduced in 2017.

It said the reprinted MVR 5 notes received today would be put into circulation from tomorrow.

The notes bear the signature of MMA Governor Ahmed Munawar. The new print run of MVR 5 notes also features the Maldivian rufiyaa symbol on both sides. The symbol appears alongside the face value at the top left on the front of the note and at the top right on the back.

The MMA said that although businesses use large quantities of MVR 5 notes in transactions, very few are deposited back with the authority through banks. As a result, it said it issues large quantities of these notes to the public and banks each year.

The MMA continually arranges the printing of banknotes to meet new demand for cash in the economy and to replace notes it receives that are withdrawn because they are worn or damaged.