The Maldives Monetary Authority (MMA) has rolled out new versions of three denominations of the Maldivian rufiyaa across 2025 and 2026, each carrying the official rufiyaa currency symbol that was publicly introduced in 2022. The redesigns affect the 100, 20, and 10 rufiyaa notes. All three carry the date 31 July 2025 and the signature of MMA Governor Ahmed Munawar. This post breaks down each release, what specifically changed, and what the new symbol means for collectors of Maldivian currency.
The New Rufiyaa Symbol Explained
The new symbol is the Thaana letter raa, the first letter in spelling the word rufiyaa. The Maldives Monetary Authority publicly introduced the symbol on 3 July 2022, and it was designed by Hassan Shujau. The character is scheduled for inclusion in Unicode version 18.0 as U+20C2 “rufiyaa sign”, with an expected release in September 2026.
Prior issues of the 10, 20, and 100 rufiyaa notes (most recently in 2015 and 2018) did not display the symbol. The 2025 and 2026 reissues are the first widely circulating Maldivian banknotes to carry it, making them a clean reference point for collectors who organize their holdings by typographic or symbol firsts.
The 100-Rufiyaa Polymer Note (January 2025)
The 100-rufiyaa polymer note was the first denomination in the current series to be updated. The Maldives Monetary Authority issued it on 19 January 2025. Compared with the prior polymer 100 rufiyaa:
1. The new currency symbol precedes the numerical denomination on both obverse and reverse.
2. The note carries a new date and a new signature.
3. The wider artwork and security architecture remain consistent with the immediate predecessor.
The 100 rufiyaa update was reported by Polymer Notes News alongside the later 20-rufiyaa update.
The 20-Rufiyaa Polymer Note (February 2026)
MMA issued the revised 20-rufiyaa polymer note on 17 February 2026. The release was reported by BanknoteNews, which assigned it the catalog reference B225a. Key facts on the new 20 rufiyaa:
1. Issue date: 17 February 2026.
2. Note date printed on the note: 31 July 2025.
3. Signed by Ahmed Munawar, current Governor of the MMA.
4. The new currency symbol appears on both sides of the note.
5. The denomination numerals on the upper left of the obverse are noticeably larger than on prior issues.
6. The note remains a polymer banknote, consistent with the prior 20-rufiyaa series.
Polymer Notes News reported that the MMA introduced the new stock to address low circulation of the MVR 20 denomination amid increased ATM activity and cash transactions ahead of Ramadan.
The 10-Rufiyaa Note (April 2026)
The 10-rufiyaa note followed on 1 April 2026, as reported by the MRI Bankers’ Guide. The note carries the date 31 July 2025 on its face. The principal change is the addition of the new rufiyaa currency symbol, which was absent from the 10-rufiyaa notes issued in 2015 and 2018. The new and old notes circulate together at face value in the Maldives.
What the New Symbol Series Means for Collectors
The 2025 and 2026 reissues are the first generally circulating Maldivian banknotes to carry the official rufiyaa symbol. Three short-term collector considerations:
1. Uncirculated examples of the new 20 rufiyaa (catalog reference B225a) are already appearing on the international market in single-note holders.
2. The 100 rufiyaa note’s January 2025 issue is the founding piece of the symbol-bearing series and the natural anchor for a country-complete set.
3. Collectors building country-complete sets of Maldivian banknotes or symbol-first sub-collections will want examples of all three denominations together.
Older 2015 and 2018 issues remain legal tender and will not lose face value. Their reference value to collectors, however, shifts as the symbol-bearing notes establish the new baseline for the series.
Frequently Asked Questions
Are the older Maldives rufiyaa notes still legal tender?
Yes. The Maldives Monetary Authority has confirmed that pre-symbol notes from 2015 and 2018 remain valid and continue to circulate alongside the new symbol-bearing issues. Older and newer notes exchange at face value.
Is the 2025 and 2026 series a complete redesign or only a symbol update?
The redesigns are targeted. The 100 and 20 rufiyaa polymer notes retain their prior artwork and security architecture, with the addition of the new currency symbol, a new date, and a new signature. The 20 rufiyaa also has larger denomination numerals on the upper left. No wholesale artwork change has been made.
What is the catalog reference for the new 20 rufiyaa?
International numismatic references list the new 20-rufiyaa polymer note as B225a. The note carries the printed date 31 July 2025 and the signature of MMA Governor Ahmed Munawar.
The 2025 and 2026 Maldives series is a small typographical change with an outsized place in the country’s monetary record. The official rufiyaa symbol, introduced in 2022, has finally entered general circulation across three denominations. For collectors of Asian or polymer notes, the three releases form a clean three-piece set with a clear narrative thread.