Japan to produce 500 million Tk 2 coins

The government on Sunday inked an agreement with a Japanese firm to procure 500 million pieces of Tk 2 metal coins from Japan.

Joint Secretary at the Ministry of Finance Akhlasur Rahman and Japan Mint President Yoshiake Shinhara signed the agreement at Bangladesh Bank's (BB) headquarters in Dhaka.

Japan's Ambassador in Dhaka Shiro Sadoshima and BB Governor Atiur Rahman were also present there.

The central bank said the coins will carry an image of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman. Each of the coins will cost Tk 1.10.

As per the deal, Japan Mint will deliver the new coins in six shipments staring from April.

The state-affiliated firm of Japan recently won the contract to mint coins worth $12 million for Bangladesh after participating in an international bid with Germany, Britain, The Netherlands and Slovakia.

This was the first order Tokyo had received for coins in circulation in any foreign country since the end of World War II.

They clinched the contract on November last year with a bid of $6.5 million, the lowest.

Governor Rahman said,” The process of making these coins has ended with great transparency. A huge amount of foreign currency will be saved as this is a government-to-government deal.”

He said earlier each of such coins would cost Tk 1.22.