2016-05-28 Sat

Bank of Guyana Governor, Dr. Gobind Ganga has announced on Monday that $1 and $5 coins will be completely withdrawn from circulation before a final assessment is conducted. Officials state that there is no need for analyzing the feasibility of eliminating the 1$ from circulation as they are quite sure about their decision on that. They are currently analyzing the impact of eliminating the $5 coins.

Experts believe that the withdrawal process needs to be careful as people need to be educated about the decimal system. The 10 dollar note has also been replaced by the 10 dollar coin long back. 20, 100, 500, 1,000; 5,000 and 50 dollar note are currently in circulation in Guyana.