The Central Bank of Myanmar (CBM) has issued a statement urging the public to trust the country’s currency and financial services amidst the circulation of false information on social media platforms. 

Rumors claiming that some Myanmar currency notes would be demonetized and that banks would soon close have been spreading through Facebook groups like Gold Buyers and Sellers Direct and other public groups.

These posts often made by fake profiles, anonymous participants, or locked accounts; aim to create panic and instability in Myanmar’s financial sector.

The CBM clarified on its official website that there are no plans to demonetize any currency notes or replace them with new ones. No banks are at risk of closure or have any plans to shut down.

The spread of misinformation is suspected to be the work of individuals seeking to disrupt the country’s economic stability, undermine trust in Myanmar’s banking system, and manipulate foreign exchange and commodity prices.

The CBM also emphasized that the country's financial system remains stable and urged the public to rely only on official announcements from the Central Bank. 

Furthermore, the CBM, in collaboration with relevant law enforcement agencies, is working to take legal action against individuals or groups responsible for disseminating false news under existing laws.

To avoid unnecessary losses, the public is advised not to believe unverified rumors and to continue using Myanmar's currency with confidence.

 The CBM assured that licensed banks and financial institutions provide trustworthy services for deposits, transfers, and other financial transactions.