MVR 3.6b in circulation in Maldives' economy, central bank says
MMA pointed out that MVR 500 notes account for the bulk of the currency in circulation in the economy.
By
Aishath Fareeha Abdulla
At the end of last year, MVR 3.6 billion worth of currency notes were in circulation in the country's economy, according to data from the central bank, Maldives Monetary Authority (MMA).
In its annual report for 2022 released on Wednesday, MMA pointed out that MVR 500 notes account for the bulk of the currency in circulation in the economy.
As per the information shared by MMA:
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MVR 1,000 notes account for 5.7% of the currency in circulation in the economy
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The MVR 500 note accounts for 82.3% of the currency in circulation in the economy
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MVR 100 notes account for 7.8% of the currency in circulation in the economy
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The MVR 50 note accounts for 1.4% of the currency in circulation in the economy
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The MVR 20 note accounts for 1.3% of the currency in circulation in the economy
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The MVR 10 note accounts for 0.9% of the currency in circulation in the economy
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The MVR 5 note accounts for 0.6% of the currency in circulation in the economy
According to MMA, the total amount of money circulating in the economy as coins or Laari is 79.8 million.
