Myanmar denies banknotes demonetization rumours

Image Source : AP Myanmar denies banknotes demonetization rumours
Myanmar’s State Administration Council has introduced that the residents can proceed using 5,000 and 10,000 kyat notes, whereas denying rumours of demonitization of banknotes.

In a press release on Wednesday, the Council mentioned that rumours and faux information have been unfold in social media in regards to the demonetization of 5,000 and 10,000 kyat notes revealed by the state formally, experiences Xinhua information company.

Meanwhile, the Central Bank of Myanmar on Wednesday introduced that the residents can proceed using the notes and banking providers with out worries because the directive has been given to the banks to function banking providers as normal.

The Central Bank of Myanmar positioned emphasis on stabilizing the financial system relating to the rumours.

On Monday, the navy seized management of Myanmar after it detained authorities leaders and different senior officers of the ruling National League for Democracy (NLD), together with State Counseelor Aung San Suu Kyi and President U Win Myint.

The President’s Office later declared the one-year state of emergency and the state energy was handed over to the Commander-in-Chief of Defence Services.

The coup was staged over the disputed outcomes of the November 2020 parliamentary polls wherein the NLD gained an awesome majority. The navy mentioned the outcomes have been fraudulant.

Also Read: Myanmar fees Suu Kyi, giving authorized foundation to detain her
Latest World News