(Mizzima) - Burma’s state-run media on Thursday announced that a new 5,000 Kyat denomination currency note will be in circulation from October 1.

The announcement by the Naypyitaw-based Central Bank of Myanmar on MRTV on Thursday evening said, the new currency note, that carries a picture of a white elephant and the Naypyitaw city, would be circulated as of October 1.

The announcement took the people by surprise and triggered fears of an impending price-hike,  Mizzima’s correspondent in Rangoon said.