Regulatory Alerts2021-10-22
Instructions of Currency Management Department on Accepting and Exchanging Old, Torn, and Damaged Banknotes
The Central Bank of Myanmar instructs state-owned and private banks to continuously accept and exchange old, torn, and damaged banknotes for new currency at their counters. This policy, initially piloted in Yangon in August 2009 and expanded nationwide, mandates banks to replenish exchanged notes through monthly CBM exchanges or routine cash operations. Recent circulars for the 2017–2018 fiscal year reinforce these obligations, ensuring the public can reliably obtain clean currency while banks process customer deposits and agricultural loan repayments.
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