Kazakhstan to stop minting 1 and 2 tenge coins
Tengrinews.kz - Kazakhstan will no longer mint 1 and 2 tenge coins, according to Timur Suleimenov, the Governor of the National Bank.
Suleimenov explained that the decision was driven by the impracticality of continuing to spend money on producing coins of such low denominations.
“We agree that it's not cost-effective to mint them (1 tenge), so our basic plan is this: the coins currently in circulation will remain valid, but we don’t plan to mint new ones. The same goes for the 2 tenge coin,” he said while speaking on the Senate sidelines.
He emphasized that coins already in circulation will not be withdrawn, but no new ones will be produced.
“Those already in circulation — in our pockets and elsewhere — will remain. We’re just not spending money on making new ones,” Suleimenov concluded.
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