Data from the Maldives Monetary Authority (MMA) sheds light on the continuous process of maintaining a healthy circulation of banknotes. Last year alone, the MMA undertook a significant operation to remove worn-out currency from circulation, destroying an impressive 391,957 polymer notes. This massive undertaking equated to removing 22,911,960 rufiyaa from circulation, highlighting the scale of currency management in the island nation. Interestingly, the 20 rufiyaa note saw the highest rate of destruction, accounting for a substantial 39.9 percent of all notes removed. This statistic offers a glimpse into the circulation patterns of Maldivian currency, suggesting that the 20 rufiyaa denomination … Continue reading The Maldives: From Cowrie Shells to Polymer Notes