31 Jan 2012

Solomons to replace its coins

11:50 am on 31 January 2012

The Solomon Islands Central Bank has announced that the current set of coins will be replaced in July.

The Solomon Star says the changes will be the country's first since the introduction of decimal currency in 1977.

The Bank's Governor, Denton Rarawa, says the manufacturing costs of coins have become unsustainably high especially as there is also a persistent coin shortage.

He says a public survey revealed people want new coins that are smaller and lighter.

Mr Rarawa says 1, 2 and 5 cent coins will no longer be produced, and 10 cents, 20 cents, 50 cents, 1 dollar and 2 dollars coins will be new.

The Royal Australian Mint will be producing the new coins.