ECCB to issue circulation of a new $2.00 coin tomorrow

first_img 21 Views   no discussions Tweet LocalNews ECCB to issue circulation of a new $2.00 coin tomorrow by: – October 13, 2011 Share Sharecenter_img Share Sharing is caring! New $2.00 to be circulated.The Eastern Caribbean Central Bank will issue the circulation of a new $2.00 coin to all commercial banks across the Eastern Caribbean Currency Union tomorrow.Resident Representative of the Eastern Caribbean Central Bank in Dominica, Edmund Robinson told Dominica Vibes News that the coin will be issued to commemorate the banks’s Financial Information Month which is being celebrated this month.“The new $2.00 coin is being issued in an effort to commemorate the 10th year of celebrating Financial Information Month. Two million of those coins will be produced and we will be issuing them to the public as of Friday, tomorrow and they will be circulating along with the coins that we have in circulation.”Mr Robinson further stated that the new coin is legal tender which can be used for all transactions.“It is worth two dollars, it is legal tender for all transactions and some persons may want to hold them as tokens or keepsakes but you can use it to do transactions, you can use it to pay your bus fare, you can use it to buy your groceries.”Mr Robinson explained that the coin, although slightly bigger than the $1.00 coin, is in keeping with the existing family of coins as well as the standards of vending machines and counting machines at the commercial banks.The coin is made up of a durable metal of the quality of the other denominations, and was chosen instead of a note because small denominations are used more often and therefore go through more wear and tear. As such it is best to have them made from a more durable material.This new coin is a onetime issue; only two million pieces will be produced and issued until stock is exhausted.Dominica Vibes Newslast_img read more