Manama (Bahrain): The Bahrain Monetary Agency (BMA) is issuing new currency notes and coins worth BD24.07 million, in the run-up to Eid Al Fitr.
The new notes and coins are being issued to meet the increased demand for new currency, to be given as Eidi (Eid gifts).
Of the new currency being issued, BD19.45 million is in notes and BD622,000 in coins.
Of the new notes, BD14 million are being released in BD20 denomination; BD7 million in BD10 denomination; BD1.75 million in BD5 denomination and BD1.70 million in BD1 denomination.
Of the coins, BD400,000 worth of coins are being released in 500 fils denomination; BD180,000 in 100 fils denomination; BD32,000 in 50 fils denomination and BD10,000 in 25 fils denomination.
"Traditionally, the demand for new notes and coins increases in the run-up to the Eid celebrations, particularly Eid Al Fitr," said Mr. Farid Zubari, Director, Currency Issue, at the BMA.
Meanwhile, total money in circulation in Bahrain reached an all-time record of BD205.56 million today.
This compared with BD187.42 million worth of money in circulation on 4th December 2002, which was the day before Eid Al Fitr last year.
"The increase in money in circulation is not related only to the upcoming Eid festivities," said Mr. Zubari.
"We have been witnessing this growing trend for the past year. It is clearly a reflection of the stimulated economic activity in the country."
-Ends-
Bahrain Monetary Agency (BMA)
Promotion & Media Unit
Contact: Indira Chand/Nadera Abu Ali
Tel: (973) 547623/547676
E-mail: media@bma.gov.bh
© Press Release 2005
