Central Banking

UAE to mint more small coins - while Ireland starts phasing them out


The Central Bank of the United Arab Emirates (CBUAE) has announced it is to step up the quantities of small denomination coins that it mints, while the Central Bank of Ireland is initiating an effort to phase them out.

In a statement, the CBUAE said it has "decided to mint new quantities of currency coins of smaller denominations as their usage have increased specially after the introduction of paid parking."

The UAE has suffered from a coin shortage following the introduction of parking meters

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