Saturday, September 27, 2014

Myanmar to Issue New 5000 Kyat Bank Notes

The Central Bank of Myanmar will introduce a new Ks 5,000 bank note on October 1, 2014 in order to prevent counterfeiting, it said on September 18.

The new bank note will be varnished and its quality higher than the current Ks 5,000 notes in circulation. It will be the same size, colour and design of the notes now circulating, which will continue to be used.

The new notes will last longer and be cleaner, the central bank said.

The announcement follows recent media reports that counterfeit Ks 5,000 and Ks 10,000 bank notes are circulating widely. Police seized eight counterfeit Ks 10,000 bills and a printer allegedly used to make them on September 12 in Yangon’s Tamwe Township.

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