Mexico to Optimise its Coin Range

At the Coin Conference last October in Amsterdam, Alejandro Alegre Rabiela, General Director of Currency Issuance and Chief Cashier of Banco de México (BdM), described the proposals being made to improve Mexico’s coin circulation, the objectives being to provide all users with increasingly useful and higher quality coins and to satisfy the demand for coins by efficiently using public resources in their production and distribution.

A comprehensive review involving the public, international benchmarking against 43 countries and the European Union, and research into coin production technologies and materials has led to recommendations for a series of changes. Some of these have already been decided, others await the decision by the BdM’s Governing Board, expected some time this year.

BdM is responsible for providing domestic currency to the public. It places orders on the Mexican Mint and issues and distributes coins through the six cashier branches and a network of correspondents. While the Congress decides the design of coins, the Mint is subordinated to the Ministry of Finance and Public Credit.