MMA decides against issuing MVR 5 coin

Maldives Monetary Authority (MMA) has announced it has decided against declaring the MVR 5 notes redundant and replacing it with MVR 5 coins.

The announcement was made by Governor of MMA, Dr. Azeema Adam during a press conference held this Saturday morning.

Dr. Azeema said that MMA had decided instead to issue new currency notes for MVR 5 as well.

She said the decision was made based on popular demand.

Azeema announced that the new MVR 5 currency notes would also be made from polymer, same as the other currency notes of the new series.

The currency notes will be issued in early, 2017.

Azeema also announced that MMA will be replacing the current MVR 2 coins with lighter coins for convenience.