ID :
183846
Mon, 05/23/2011 - 13:55
Auther :
Shortlink :
https://oananews.org//node/183846
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MALAYSIA'S CENTRAL BANK TO ISSUE NEW SERIES OF BANKNOTES AND COINS
KUALA LUMPUR, May 23 (Bernama) -- Bank Negara Malaysia has announced a new series design of Malaysian banknotes and coins for circulation in early 2012.
This is also an exercise that is undertaken periodically every twelve years.
The design of the new currency series includes features that are
distinctively Malaysia, it said in a statement.
There will also be an enhanced security element in line with the latest advancements in technology for currency notes, it added.
The new fourth series design of banknotes will be featured in denominations of RM1, RM5, RM10, RM20 and RM100.
The current design of the RM50 banknote, in circulation since December 2007, is to commemorate Malaysia’s 50th Anniversary of Independence.
Bank Negara said it will continue to remain in circulation.
The new design coins are the third in the series, in denominations of five sen, 10 sen, 20 sen and 50 sen, Bank Negara (the Central Bank) said.
The new series of banknotes and coins will co-circulate with the existing series until the latter is gradually withdrawn, it said.
In preparation for the issuance of the new currency series, Bank Negara Malaysia will be working closely with financial institutions, businesses and cash handling vendors to ensure a smooth transition.
It said vendors of cash handling machines will be given six months to calibrate it to ensure public convenience in the use of the new
currency.
Bank Negara, as part of the efforts to increase public awareness on the new currency series, will issue the commemorative coins for the third series and unveil the new fourth series banknotes design in the third quarter of 2011.
This is also an exercise that is undertaken periodically every twelve years.
The design of the new currency series includes features that are
distinctively Malaysia, it said in a statement.
There will also be an enhanced security element in line with the latest advancements in technology for currency notes, it added.
The new fourth series design of banknotes will be featured in denominations of RM1, RM5, RM10, RM20 and RM100.
The current design of the RM50 banknote, in circulation since December 2007, is to commemorate Malaysia’s 50th Anniversary of Independence.
Bank Negara said it will continue to remain in circulation.
The new design coins are the third in the series, in denominations of five sen, 10 sen, 20 sen and 50 sen, Bank Negara (the Central Bank) said.
The new series of banknotes and coins will co-circulate with the existing series until the latter is gradually withdrawn, it said.
In preparation for the issuance of the new currency series, Bank Negara Malaysia will be working closely with financial institutions, businesses and cash handling vendors to ensure a smooth transition.
It said vendors of cash handling machines will be given six months to calibrate it to ensure public convenience in the use of the new
currency.
Bank Negara, as part of the efforts to increase public awareness on the new currency series, will issue the commemorative coins for the third series and unveil the new fourth series banknotes design in the third quarter of 2011.
