Our new Fiji $1, 50c, 20, 10c and 5c coins as well as the removing of the 1c and 2c coins will save us $8million.
Those were the words of Reserve Bank Governor Savenaca Narube at the unveiling of the new coins yesterday.
Narube said due to the significant reduction in size and weight of these new coins, individuals and businesses will save substantial costs in terms of transportation, handling and storage.
The new 5c will now have a plain edge, the 10c will continue to have a rough and serrated edge and the 20c will have interrupted serrations, a series of rough edges followed by a smooth edge while the 50c and $1 will have rough edges.
Narube said these changes were also done for the benefit of the visually impaired.
The new coins will be released on January 13th for circulation while the old coins will be withdrawn from circulation on the 31st of March next year.
New Coins Will Save $8M
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