Monday, December 19, 2016

Fake News: New RM50 & RM100 next year?

Recently, fake news about new RM1, RM50 and RM100 issued by Bank Negara Malaysia (BNM) in January 2017 has been circulating via whatsapp. Today, BNM has released a press statement relating to this fake news, confirming that this news is not true.

New RM50 & RM100

The fake news via whatsapp:
"Take note that new Ringgit Notes for RM50 and RM100 to come into circulation in Jan 2017. Any old notes become of no value. Sister of my staff in Singapore contacted BNegara to enquire if that is true. They told her it is true and they hv not announced it so a not to cause a rush to the bnm. She has since changed her Msian currencies to the new notes."

They are also picture of different colour RM1 and RM5 circulating via whatsapp with words "Malaysia new RM1, RM5 & RM50-wef Jan 2017. All the old currency notes cannot b used anymore".

new RM1 & RM5

Some say, Malaysia want to follow what the Prime Minister of India,  Narendra Modi did recently; release new ₹500 and ₹1000 Indian Rupees notes non-legal tender with effect from 9 November 2016 without any advance notice. 

Here are the actual press release by BNM:
"Current Series of Malaysian Banknotes Continue to be Legal Tender
With reference to news circulating in social media on claims that new RM1, RM5, RM50 and RM100 banknotes would be issued in 2017, Bank Negara Malaysia would like to confirm that this news is not true. The current series of banknotes will continue to be legal tender and remain in circulation."

Current Malaysia Banknote design has been start circulating since 16 July 2012. Themed 'Distinctively Malaysia', the new banknotes series comprises denomination of RM1, RM5, RM10, RM20 and RM100. The current RM50 banknote has been issued since December 2007.

The 4 years old design will not change for at least another 6 years. Malaysia banknotes design will not change just because BNM have a new governor. Malaysia banknotes controlled by Bank Negara not Malaysia Prime Minister.