Ireland to phase out one- and two-cent coins


Ireland today (June 16) decided to phase out the use of one- and two-cent coins across the whole country, handing responsibility to the central bank to ‘roll out' the change which will require all cash payments to be rounded to the nearest €0.05 ($0.056).

The move follows a successful trial carried out over nine weeks in the town of Wexford in 2013, where 60% of the public deemed the move a success. Among merchants in the town, approval was even higher, with 83% saying the move was beneficial.

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