No final decision yet on future of 5-cent coin, says Central Bank

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5 cent piece

No final decision has yet been made on the demonetisation of the 5-cent coin.

A Central Bank official told 103.1 FM News this afternoon that the notice issued on February 24th still stands.

In that statement, the Central Bank said no final decision has been taken to discontinue the coin, although the option is under review due to high production costs of about 24-cents per coin.

The Bank added that if a decision is made to withdraw the coin, the public will be given advance notice along with clear instructions on how to redeem existing pieces.

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