News in Brief

Coin Shortages Hit Chile

The Central Bank of Chile is urging citizens to ferret out any spare change they may have lying around amid a national shortage of coins. In a series of recent Twitter posts, the central bank warned that ‘COVID-19 had affected the circulation of cash’ and hurt small retail vendors. Employing the hashtag #usatusmonedas (‘use your coins’), officials pressed Chileans to spend coins or take them to banks.

Not unlike the US Federal Reserve, and its Coin Task Force, the Bank has created a working group, involving stakeholders from banking and commerce, with the aim of increasing the circulation of coins in the country.

According to the Bank, the circulation of coins has been affected by the pandemic, in particular the closure of commerce and services.