The Central Bank of Kenya has assured the public that there are enough coins in circulation currently with a new batch released in October. Kenyans have been complaining in recent days of shortage of coins with Supermarket stores mostly giving back sweets in place of coins for change. The most affected denominations have been the 1 shilling coin and the 5 shilling coin.
“The Central Bank of Kenya would like to clarify and assure the public that the country has adequate stocks of currency coins and continues to issue them according to the law.” Reads a statement signed by CBK Governor Njuguna Ndung’u. ” To date, the bank has issued 1.29 billion pieces of coins into circulation out of which 9 million new pieces were released into the market in October 2012.” The statement said adding that there is sufficient quantities of all denominations of currency coins are in circulation .
Supermarkets in May ran a campaign to have the public release coins they hold in cars and houses back into circulation to enable ease of change and avoid the ‘sweet’ change which most customers have been complaining about. The public has been urged to use all denominations of Kenyan currency coins for transaction as they are all legal.
In the statement, Ndung’u urged the public including supermarkets, shops and kiosks to readily accept and promote efficient circulation of the coins without any reservations. He made the remarks referring to the 50 cent coin which many outlets have shunned pushing it completely out of circulation for over a year now.