Suriname: Changes to circulation coins

Started by eurocoin, November 16, 2019, 04:50:30 PM

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

Pabitra

Since issued.
There is no change in weight.
With change of alloy, it obviously means thicker coins since plated steel has lower specific gravity than Copper Nickel.

eurocoin

Despite the new coins having been released into circulation, the coin shortage remains. According to a local politician this is because commercial banks have to pick up the coins from the central bank. The transportation costs them at least 3% of the value of the coins. The commercial banks are hesitant to do this.

Pabitra

In India, the incentive for distribution was enhanced to nearly 300 percent, to reduce the stock pile of minted circulation coins.
Source: Reserve Bank of India Annual Report 2021-22.

redlock

Quote from: Pabitra on August 21, 2022, 06:45:20 AMIn India, the incentive for distribution was enhanced to nearly 300 percent, to reduce the stock pile of minted circulation coins.
Source: Reserve Bank of India Annual Report 2021-22.

Did it work?

Pabitra

Let us wait and see 2022-23 Annual report which will come out in May 2023.