CNI News
1 October 2023

A fake statement that 50 and 100 kyat notes issued by the Central Bank of Myanmar have been demonetized have arisen.

The fake statement has been signed by Lt-Gen Aung Lin Dwe, secretary of the State Administration Council and Order No.1/2023 dated 29th September,2023 has been mentioned on the fake statement.

Lt-Gen Aung Lin Dwe did not tend to sign on the order announcements when he released them and order numbers released by the SAC have reached more than 80. So, the announcement that 50 and 100 kyat notes have been cancelled is just fake.

" It's just fake. It's obvious that bad people are trying to make the money prices unstable after creating fake news and distributing rumors." said a person close to the SAC.

The statement that 50 and 100 kyat notes have been cancelled was just fake, said the SAC and the Central Bank, to CNI News.

 According to the Section 36 (e) of the 2008 Constitution, officially issued currency must not designated as illegal currency.

Those who want to make speculations of the prices of commodities, gold and dollar are creating chaos in Myanmar's economy by issuing fake statements, said businessmen.

The SAC should build information rapidly to respond the rumors like that, they said.