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IN SHORT BUSINESS

Small coins out of use

THE CENTRAL bank NBS agreed that, as of January 1 next year, 10 and 20 halier coins would be removed from circulation.

The NBS council decided on November 14 that the coins would be gradually exchanged over the course of the next five years. The small haliers are too expensive to produce, argued the NBS.

The production of a 10 halier coin costs 30 haliers, while the 50 halier coin costs 34 haliers. 41 haliers are equivalent to 1 euro cent.

Slovak daily SME reported that NBS plans to save about Sk72 million (€1.76 million) in the next five years by abolishing the small coins.

In line with the recently approved law on prices, the prices of individual products in shops will still be quoted using 10 and 20 halier denominations, and only final purchasing sums will be rounded to 50 haliers or to whole crowns.

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