New print of MVR 20 and MVR 100 notes enters circulation amid renewed demand for cash

The Maldives Monetary Authority (MMA) on Tuesday released into circulation new prints of MVR 20 and MVR 100 banknotes of the ‘Randhiha Faheh’ series.

The MMA said in a statement that the new stock of MVR 20 MVR 100 is based on a renewed demand for cash in the Maldivian economy, and also designed to replace old and damaged banknotes that are removed from circulation.

The new stock of MVR 100 was brought in on February 2, and the new stock of MVR 20 banknotes on Sunday.

The new notes are signed by Governor Ahmed Munawar and dated July 31, 2025.

MMA said that the main purpose of releasing the new prints into circulation is to ensure an adequate supply of cash in the economy.

It also stressed that releasing new stocks of banknotes to address shortages is routine under the money management system.

New print of MVR20 Banknotes enters circulationhttps://t.co/br2w6zfUPS pic.twitter.com/VMT2TL2T73

— MMA (@MMA_Maldives) February 17, 2026

The MMA said that the new prints of MVR 20 features a significant change in design, with the Rufiyaa sign added to both sides of the banknotes.

Meanwhile, the new prints of MVR 100 also had the Rufiyaa sign consistent with the design of the MVR 100 notes released on July 7, 2024.

The MMA said that both the new prints of the MVR 20 and MVR 100 banknotes as well as the ones already in circulations are valid and can continue to be used.

New print of MVR100 Banknotes enters circulationhttps://t.co/br2w6zfUPS pic.twitter.com/AZmaOn4g7R

— MMA (@MMA_Maldives) February 17, 2026

Sun has been informed that this renewed demand for cash is due to the recent move by the Bank of Maldives (BML) to increase ATMs nationwide.

The release of a new print of banknotes comes amid criticism over plans for an MVR 2.4 billion transaction planned by the Maldives Pension Administration Office (MPAO) – a move that economic experts warn will release excess Rufiyaa into circulation and raise inflation.

MMA has previously said that bringing in a new stock of banknotes does not constitute to releasing excess Rufiyaa into circulation, but is aimed at maintaining the stock of cash.

The Randhiha Faheh note series, which boasts enhanced security features and is printed on polymer paper, was introduced on November 1, 2015.