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Maldives to launch new currency series in November

Xinhua, October 6, 2015 Adjust font size:

The Maldives Monetary Authority ( MMA) has announced that its new currency series "Ran Dhiha Faheh" will be launched on Nov. 1.

Local media reports said that the new currency series was introduced during the 50th anniversary of the Maldives independence which was commemorated in July.

The MMA had previously planned to unveil the new series on Oct. 5 but the launching had been postponed.

The authority had earlier disclosed plans to release the notes into public circulation in December, local reports said.

MMA Governor Dr. Azeema Adam had also declared that following the series' unveiling, the current notes in use can be utilized until May, with a period of five years allocated for the public to exchange their old notes for the new series.

Dr. Adam added that the series is printed on polymer paper and are state-of-the-art, impossible to produce counterfeit notes.

The currency series will be circulated in Maldivian rufiyaa 10, 20, 50, 100, 500 and the brand new 1,000 notes. The series also introduced Maldivian rufiyaa 5 as coins instead of the current cash note.

The printed notes arrived in the Maldives on Sept. 17. Endi