BCV reinforces circulation with 1.4 million coins to respond to market shortages

Praia, Oct 2 (Inforpress) - The Bank of Cabo Verde (BCV) announced, Wednesday, the reinforcement of monetary circulation with the injection of 1.4 million coins into the market between July and September of this year, in response to the shortage registered in the country.

According to a note from the institution, the amount corresponds to 60 percent (%) of the annual quantity made available by the BCV and includes coins in denominations of one, five and ten escudos.

With this reinforcement, Cabo Verde now has 70.5 million coins in circulation, a number that will increase to 92.7 million after the introduction of the new production, which will add 23.8 million to the national economy.

The central bank has announced that, by the end of this month, there will be a further increase in the supply of 50 escudos’ coins, and that by the end of November, 20 and 100 escudos’ coins will be introduced.

LT/CP

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