Bank Negara Malaysia today announced that the new Malaysian banknotes would enter circulation from July 16.

In a statement today, the central bank said the banknotes series, themed ‘Distinctively Malaysia’, is in denominations of RM1, RM5, RM10, RM20 and RM100.  

“The current RM50 banknote has been in circulation since December 2007 and will continue to do so,” it added.

Bank Negara said in preparation for the issuance of the new banknotes, it had been working closely with financial institutions, businesses, cash handling vendors and local councils since December last year, to facilitate a smooth transition.

“Numerous engagement sessions were held with these stakeholders to ensure readiness of the systems and processes for the issuance of the new banknotes,” it added.

Bank Negara urged vendors of cash handling machines to ensure their machines can accept both the new and old banknotes for the convenience of the public effective July 16.

- Bernama