Thursday, May 26, 2011

New Currency Notes and Coins for Malaysia

Bank Negara Malaysia will be issuing a new set of currency notes with new design that will be distinctively Malaysia. The new currency notes will be in the denominations of RM1, RM5, RM10, RM20 and RM100. Besides the new currency notes, new coins be also be introduced in denominations of 5 sen, 10 sen, 20 sen and 50 sen. There will be no change to the existing RM50 in circulation. The new currency notes will be in circulation this year.
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The new notes will have added security features in them which is good. I seems to have a problem with the existing RM1 and RM50 which I felt that it look almost similar. On close look, these 2 notes are different in design and size. But if you are in a hurry or not careful enough, you could mistaken one for the other. That happened to me when I mistakenly hand out the RM50 thinking it was RM1 when doing my shopping. Luckily, my friend was alert and pointed it out. So hopefully the new RM1 will look very distinctively different from the RM50. Nowadays, I placed the RM1 and other currency notes separately from the RM50 in my wallet - so no more mistaken identity.