New 2 Rufiyaa coin to begin circulation tomorrow

The new, lighter coin for 2 Rufiyaa has been set for inauguration tomorrow and enter the circulation in the economy.

Maldives Monetary Authority (MMA) has not revealed any details on the design of the new coin aside from the fact that it would be lighter than the current coin in circulation.

MMA brought the first stock of the new coins in early May and the second stock was received and stored on 10 July 2017.

Spokesperson of MMA, Mansoor Zubair told Sun Media that the new 2 Rufiyaa coins are set to be introduced and enter circulation tomorrow morning following a special ceremony at MMA.

Mansoor said that the introduction of the new coin will not make the old coin obsolete and remain as legal tender. And to change the coins to the new one, it won't have to be brought to the MMA. But when they do reach MMA, they would replace them with the newer coins.

MMA has also announced that they would inaugurate the new currency note for 5 Rufiyaa very soon.