Basseterre, St. Kitts, June 17th, 2020 (ZIZ News)
By: Chaïra Flanders
Residents of St. Kitts and Nevis are being reminded that the Eastern Caribbean (EC) one and two cent coins will no longer be legal tender at the end of this month.
In a press release from the Eastern Caribbean Central Bank (ECCB), persons were reminded to spend, or take the coins to their commercial banks before June 30 2020.
The ECCB also advised that this date is the official deadline for the withdrawal of the EC one and two-cent coins. This means that after 30 June, the public will not be able to use the one and two-cent coins to pay for goods or services.
Acting Director of the Currency Management Department, Rosbert Humphrey, says the public can spend the coins and businesses can accept them up until 30 June.
Spending the coins is one way to get rid of them, however, persons can also take the coins to their commercial banks and exchange them for face value or deposit them to their accounts.
The ECCB first announced the decision to withdraw the one and two-cent coins from circulation in July 2015.