MVR 5 notes of the Maldives issued before 10th May 2017 will become ineffective from 1st January 2018. The banknotes series within those denominations will be exchanged by the Maldives Monetary Authority (MMA) before 31 July 2021.
The new polymer MVR 5 note came into circulation on 10th August 2017. To commemorate the 50th Anniversary of the Maldives as "Ran Dhiha Faheh", new notes were introduced in 2015. The new polymer notes are of the denominations MVR 1,000, MVR 500, MVR 100, MVR 50, MVR 20, MVR 10 and MVR 5. It was initially decided that MVR 5 denomination would be a coin but a polymer note of the denomination was released instead.