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