ECCB sees sense in scrapping cents

Eastern Caribbean Central Bank

The Eastern Caribbean Central Bank (ECCB) will cease to issue one and two cent coins from July 1 to sidestep the "significant cost of producing and handling them".

They will remain legal tender until June 30, 2020, but banks will stop circulating them and businesses will be encouraged to round cash transactions to the nearest five cents.

In a press release titled "Fewer Cents Make More Sense!" the ECCB explained that rounding "will not be applied to non-cash payments" as they can be "settled

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