YANGON: The Central Bank of Myanmar (CBM) announced on October 18 that it has no plans to issue new K50,000 (US$24) banknotes, dismissing reports circulating on social media and websites as false rumours.
According to the CBM, some media outlets have recently circulated reports claiming that a new denomination of K50,000 banknotes would be introduced. The central bank clarified that these reports are untrue and confirmed that there is no plan to issue new K50,000 banknotes.
The CBM stated that its primary objective is to achieve and maintain domestic price stability. It is therefore continuing its efforts to ensure monetary and financial system stability.
The central bank also said it is cooperating with law enforcement agencies to identify and take legal action against those spreading false information that could harm the public interest and cause price instability. Those responsible could face effective penalties in accordance with the law. - Eleven Media/ANN
