Republic of the Union of Myanmar State Administration Council Announcement

7th Waning of Pyatho 1382 ME

(3 February 2021)

1. It is learnt that rumours circulated that K5,000 and  K10,000  banknotes  issued  by  the  state  will  be demonetized.

2. Regarding the matter, the Central Bank of Myanmar has already issued an announcement (dated 3-2-2021)  saying  the  Central  Bank  of  Myanmar  has been working hard to stabilize the financial system. All the banks have been providing proper services in accordance with the rules and regulations, so the general public can continue using the banknotes and banking services without any worries, and all the banks have been instructed to provide regular banking services. So, the rumours are baseless.

3. Section  36  (e)  of  the  Constitution  (2008)  of  the  Republic  of  the  Union  of  Myanmar  says  “the  Union shall not demonetize the currency legally in  circulation”.  So,  we  would  like  to  inform  the  general public that they can continue using K5,000 and K10,000 banknotes without any worries and without trusting the rumours.

State Administration Council

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