Haliere not worth it

The Slovak National Bank wants to stop making haliere (lesser denominations of the Slovak koruna currency) because it costs more to produce them than they are actually worth.

With inflation at around 7%, more haliere are made each year while their value decreases. Because of inflation, a 10 halier coin costs 30 haliere to produce. Slovakia would save Sk30 million ($600,000) by not minting any new haliere next year.

The Finance Ministry has agreed with the central bank on cancelling the 10 and 20 halier pieces but has rejected cancelling the 50 halier piece, arguing that consumers would face increases in prices as stores rounded decimals up.

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