# Trinidad and Tobago scraps 1 cent coin

The Central Bank of Trinidad and Tobago is getting rid of its smallest denomination coin in an initiative that could see it save TT$15 million ($2.2 million) in minting costs.

In a statement published at the beginning of June, the central bank announced it would be scrapping the 1 cent coin and introducing a rounding scheme for cash payments.

The central bank informed the public that transactions ending in a 0 or 5 will remain, while those ending in a 1, 2, 6 and 7 will be rounded down to th