2019-04-01 Mon

There were rumours that the new RM60 commemorative notes of Malaysia are going to completely replace the older RM60 notes that are in circulation. However, the country’s Finance Minister, Lim Guan Eng has openly stated that the older notes will continue to be in circulation. Mr Lim addressed the media about this at the WeChat Pay technology exhibition in Kuala Lumpur on 26th March.

Bank Negara Malaysia had issued the commemorative notes in 2017 to celebrate the 60th anniversary of the Federation of Malaya, which was formed in 1948. Mr. Lim clarified that the above-stated rumours are false and the older RM50 bills will remain legal tender. He also advised the people that they should hold on to the commemorative RM50 notes and preserve them instead of spending them, as only 60,000 pieces of these notes were printed. He went on to say that no more such RM50 commemorative notes will be printed. Compared to the 900 million pieces of RM50 notes that were circulating in Malaysia last year, 60,000 is indeed a very small number, making them rare and precious collectable, whose value might increase in the coming years.

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