Information Minister Senator Ruel Reid - file photo
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Senator Ruel Reid
The Jamaican Cabinet has approved a proposal to withdraw several coins from circulation.
These are the one cent, ten cent and 25 cent coins.
Making the announcement at Wednesday morning's Jamaica House Media Briefing, Information Minister Senator Ruel Reid said just the one dollar, five dollar, ten dollar and twenty dollar coins would remain in circulation.
"The proposal and approval comes against the background of an assessment showing that the use of the lower three denominations have been decreasing since 2005," the information minister revealed.
"Details of the cost efficiency assessment also showed that the manufacturing cost consistently exceeded the face value of the coin," he added.
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