Over time, the cost of making and supplying the current coins has
exceeded the face value of the coins.
Last year, CBSI conducted an extensive coinage review and also sought
the views of the people in the country’s first-ever national coinage survey.
“The review confirmed that manufacturing costs of coins have become
unsustainably high especially as there is also a persistent coin shortage in
the country,” said CBSI Governor Denton Rarawa.
“The public opinion survey revealed that the people want new coins
that are smaller and lighter.
“We are also going to take this opportunity to create awareness about the need to keep coins in circulation so as to avoid further shortages.”
These coinage changes will be a first for the Solomon Islands since
the introduction of decimal currency in 1977.
“Much has changed in terms of coinage materials and trends in 35
years,” said Governor Rarawa.
“All of the current coins will be removed and replaced by new coins,
taking into consideration the results from the review and the public opinion
survey.”
“The 1, 2 and 5 cent coins will no longer be produced. CBSI will
introduce five new coins in July - 10 cents, 20 cents, 50 cents, 1 dollar and 2
dollars.
The Royal Australian Mint will be producing the new coins for the Solomon Islands. More information on the new coins including sizes, shapes, weight, materials, colour and designs and the distribution and withdrawal process will be released in the coming months.
| < Prev | Next > |
|---|
