MMA Issues New Stock of MVR 5 Notes to Cure Market Shortage
The MVR 5 note remains one of the most frequently issued denominations. | Photo: MMA
The Maldives Monetary Authority (MMA) has brought in a fresh stock of MVR 5 banknotes to address a severe shortage in the local market, caused by the decay and damage of notes currently in circulation. The central bank will release the new notes into circulation starting tomorrow.
According to the MMA, the authority continuously works to meet the economy’s demand for physical cash. Officials noted that the MVR 5 note remains one of the most frequently issued denominations to both the general public and local businesses.
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The depletion of the MVR 5 note reserves at the bank stems from a combination of high daily usage in routine shopping and a low rate of return, as commercial banks have deposited relatively few of these low-denomination notes back into the MMA.
The newly imported banknotes bear the date 31 July 2025 (6 Safar 1447) alongside the signature of MMA Governor Ahmed Munawar. This arrival marks the first time the central bank has replenished its MVR 5 inventory since introducing the denomination to the Ran Dhihafaihi note series in 2017.
The updated notes feature the official Maldivian Rufiyaa symbol. Members of the public can continue using the existing MVR 5 notes alongside the new batch, as both versions will remain legal tender.
