Author Topic: Maldives to Replace MVR 5 Banknote with Coin in 2016  (Read 1024 times)

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Offline Bimat

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Maldives to Replace MVR 5 Banknote with Coin in 2016
« on: March 10, 2015, 03:45:16 PM »
MMA to replace MVR 5 banknotes with coins, introduce MVR 1,000 banknotes

March 9, 2015

Maldives Monetary Authority (MMA) has announced plans to cease the use of MVR 5 banknotes, and introduce brand new MVR 1,000 banknotes.

At a press conference today, MMA Governor Dr Azeema Adam said that MVR 5 banknotes will be replaced by MVR 5 coins.

She said that a study has identified the need to include MVR 1,000 banknotes in the upcoming series, as transactions involving high denominations have increased.

The study also showed that MVR 5 is now mostly used as change, said Dr Azeema.

The new MVR 1,000 banknote will be introduced in October 2015, and the MVR 5 coin in 2016.

Source: Sun
Caution. The low-hanging fruits are still there maybe for a reason.

Offline malawi

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #1 on: March 10, 2015, 11:48:45 PM »
interesting news!
coins and banknotes of the Maldives are beautiful
I'm curious to see the new coin 5 rufiyaa

Offline Pabitra

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #2 on: March 11, 2015, 04:13:31 AM »
Good news.
Hopefully, Royal Mint will mint them this lot too.
With enhanced capacity for bimetallic blanks in the Royal mint, we may end up with a bimetallic coin, a first for the nation.

Offline Pabitra

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #3 on: August 19, 2015, 08:18:22 AM »
The tentative date for issue of 5 Ruffiya circulation coin is October 8, 2015.

Offline Pabitra

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #4 on: September 29, 2015, 03:12:22 PM »
The date, which was preponed to 5th October, my birth day, has been deferred due to injury suffered by the First Lady, in an accident.

See

http://www.haveeru.com.mv/business/62661

Offline Enlil

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #5 on: October 01, 2015, 02:24:33 AM »
See some people are more important than the whole population.

Offline Pabitra

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #6 on: October 01, 2015, 02:36:47 AM »
The coin is not even ready.
It is likely only by either end 2016 or early 2017.
Perhaps that was the real reason to cancel the event.
The notes have been received and are to be released when the function takes place.

Online Jostein

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #7 on: November 01, 2015, 08:32:09 PM »
New banknotes series already launched some hours ago. No mention about the new MVR 5 coin... ::)
"Change is the law of life. And those who look only to the past or present are certain to miss the future" - John F. Kennedy

http://www.worldbcnews.com

Offline Pabitra

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #8 on: October 25, 2016, 05:55:48 AM »
With parting of Maldives and Commonwealth, the coin appear to have been deferred. Perhaps, the minting by Royal mint was under some bilateral programme.

Offline eurocoin

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #9 on: January 27, 2017, 08:11:00 PM »
Maldives is no longer planning to replace the MVR 5 banknote with a coin. They think it will not be convenient for the public. More here: https://avas.mv/en/25863


Offline malawi

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #10 on: April 28, 2017, 09:37:08 AM »
new 5 rufiyaa is banknote , not coin !

http://www.mma.gov.mv/#/

Offline Bimat

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Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #11 on: May 05, 2017, 02:38:43 PM »
new 5 rufiyaa is banknote , not coin !

http://www.mma.gov.mv/#/

Yes, not just a banknote but a polymer one! :) Likely to be issued this month.

Aditya
Caution. The low-hanging fruits are still there maybe for a reason.

Offline malawi

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Re: Maldives to Replace MVR 5 Banknote with Coin in 2016
« Reply #12 on: May 05, 2017, 04:34:57 PM »
Yes , polymer !

"Introducing new MVR 5 polymer note on 10th May 2017"