Purses of Slovaks to become lighter

Slovakia to round up cash payments to reduce 1- and 2-cent coins in circulation.

Slovak 1-, 2- and 5-eurocents feature the Kriváň hill.   Slovak 1-, 2- and 5-eurocents feature the Kriváň hill. (Source: TASR)

The purses of Slovaks will become lighter as cash payments are supposed to be rounded off to eliminate 1- and 2- Eurocent coins from circulation. The cabinet adopted a respective draft revision to the law on prices in early July. If parliament passes it, the new rule should become effective as of the beginning of 2022.

“Rounding up the payments would end the production of a high amount of coins of small denominations and this would simultaneously contribute to a greener Slovakia,” said experts of the National Bank of Slovakia (NBS), the country’s central bank behind the proposal. “This is because small coins often end as waste, do not return to circulation and are thus a removable ecological burden.”

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