Maldives Scraps Old Currency Notes – Revamping the Maldivian Monetary System with a New Currency Series

Tourists and holidaymakers travelling to luxury hotels Maldives should take notice of the fact that the Central Bank of the country has stopped the circulation of the old currency series and has removed 91.5% of such notes. With the bulk of the Maldivian economy heavily reliant on tourism, such as that attracted by resorts such as PER AQUUM Huvafen Fushi Maldives and others in the various atolls, the halt in circulation has a significant impact on frequent travellers to the Maldivian isles.

While circulation of the old series was arrested in August, travellers need not fear as they can exchange the old notes for the new currency series. However, the old MVR 5 note will continue in circulation until the new MVR 5 coin is released as part of the new currency series.