The central bank on Wednesday said MVR217 million worth of old banknotes are still in circulation across the country.
President Abdulla Yameen Abdul Gayoom by decree, nullified the legal tender of Maldives issued prior to 5th October 2015, of values MVR2, MVR10, MVR20, MVR50, MVR100, and MVR500, effective from August 1, 2016.
Maldives Monetary Authority said that by August 15 it had removed 92.5% of the old notes from circulation.
MMA said it has yet to collect MVR217 million or 7.5% of old notes which are still in circulation.
The new banknote series was released into circulation on January 26 this year.
The bank said MVR3.12 billion in Ran Dhihafaheh notes have been released into circulation, since the introduction of the new banknote series as part of the Golden Jubilee of National Independence marked last year.