Bank Negara Malaysia (BNM) yesterday announced the introduction of Malaysia’s new currency series which comprises newly designed banknotes.
“The banknotes issued are in the denominations of RM1, RM5, RM10, RM20 and RM100 and will be available for circulation in the second half of 2012.
“The RM50 denomination banknote for the new currency series is already in circulation,” the central bank said in a statement.
For this new series, polymer substrate is used to make the RM1 and RM5 banknotes.
The coins for this series, with denominations of 5 sen, 10 sen, 20 sen and 50 sen, were launched earlier on 25 July 2011 and will be introduced into circulation in January 2012.
The BNM said it was working closely with financial institutions, businesses and cash handling vendors to ensure a smooth transition to the new currency series. “Vendors of cash handling machines will be given six months to calibrate their machines to ensure convenience for the use of the new banknotes,” it added.
To mark the introduction of the new currency series, BNM is issuing commemorative banknotes.
They are available for sale from tomorrow at the BNM headquarters and branches located in Pulau Pinang, Johor Baharu, Kuala Terengganu, Kuching and Kota Kinabalu.