Public Responds Positively to ECCB’s Withdrawal of 1c and 2c Coins

The Eastern Caribbean Central Bank (ECCB) expresses thanks to the people of the Eastern Caribbean Currency Union (ECCU) for their positive response to the withdrawal of the one cent and two cents coins which commenced on 1 July 2015.

Deputy Director of the Currency Management Department, Rosbert Humphrey says businesses and consumers throughout the ECCU have contributed towards the success of the process and continue to assist with the smooth removal of the coins from circulation.

He however noted that persons have expressed concern that some businesses are refusing to accept the one and two cents coins and are rounding-up the final amount for payment even if customers present the exact amount due for their purchases.

Humphrey is reminding merchants and the public that the one and two cent coins are still legal tender and that the rounding process applies only if the customer does not have the exact amount required to settle the payment for their purchases. He said the intention is to withdraw the coins from circulation and that can only be achieved if businesses accept the coins from consumers. He also re-emphasised that businesses are asked not to given back the one and two cents coins as change.

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