Investment and foreign economic relations Union Minister Aung Naing Oo confirmed to the Eleven Media Group that rumors of confiscation of 10,000 Kyat notes is false.

He said this morning that a confiscation order for the 10,000 Kyat notes already in circulation will go against section 36 (e) of the constitution. 

"It is impossible. It is already stated in the constitution that legal tender already in circulation will not be made illegal. The military government is respecting the constitution and protecting it. There is no reason for them to do this," said the minister.

The constitution states that "The Union Shall not demonetize the currency legally in circulation."

Win thaw, the former Director-General of the Central bank, said that "No. It is totally not possible after confirming with those in office. When the State Adminstration Council come into power, they are formed not to cause the people harm and to disrupt their businesses but only ensure smooth operations. It is not possible to happen."