The removal of the $1 and the $5 coins from circulation in Guyana is being considered, Bank of Guyana Governor Dr Gobind Ganga said on Monday.
Dr. Ganga in response to a question during a press conference said that government is currently looking at the feasibility of eliminating both of these coins. There is also a $10 coin but this has a higher user rate than the other two which have a lower value.
Making specific reference to the $1 coin, he said “obviously it has lived its life already. There is no need for that and we are looking at the $5 but we have to be very careful because we do have the decimal system that people have to be educated about”.
