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Sh1bn in coins that Kenyans have ignored Summary Despite being a legal tender, many traders no longer accept Sh1 and 50 cent coins in preference for higher value coins and notes, a trend that could eventually make the silver and copper coins obsolete. The latest data by the Central Bank of Kenya shows that the value of coins out of circulation has hit Sh995 million. Monday April 12 2021 Summary Despite being a legal tender, many traders no longer accept Sh1 and 50 cent coins in preference for higher value coins and notes, a trend that could eventually make the silver and copper coins obsolet...

Currency in circulation up by Rs 5 lakh crore in 2020 SECTIONS Share Synopsis Currency in circulation (CIC) went up by a record Rs 5 lakh crore in 2020 as Indians joined the global dash for cash in the wake of the Covid-19 pandemic. With gross domestic product (GDP) expected to shrink by 7.5% in FY21, the currency-to-GDP ratio could cross 15%. Agencies As Covid-19 cases in India rose last year, deposit growth slowed and year-on-year growth in currency with the public accelerated from 11.3% as on February 28, 2020, to 14.5% by end-March 2020 and to 21% in June 2020. (This story originally appe...