Whether it is transacting business in the marketplace or using public transport, the grave shortage of coins – the vital small change – has become a major hassle, as the average man would readily acknowledge, but the Central Bank of Sri Lanka (CBSL) insists that there is enough and more in circulation.

"There is certainly no supply shortage as we continue to issue coins to the public", a senior CBSL official assured last week.

The problem is that most people take currency notes, but leave behind the small change when they go to the marketplace", he noted. "As a result, in a given situation coins are unavailable to change hands".

In most households, there are coins to the value of two or three hundred rupees confined to drawers, he asserted. "And there are more coins in tills".

"Perhaps, people find it more convenient carrying currency notes, but avoid coins because they are heavy and cumbersome", the official said. "So, there are no coins when they are wanted".

"What nonsense. How can we stock up coins when we don’t get them in the first place?", a housewife countered. "This is mere eyewash to wriggle out of a situation".

Whether it is a supermarket, an ordinary wayside boutique or in a bus, everybody demands small change, she said. "How can we fill drawers with coins when neither they nor us have any coins to offer?".

When a ten rupee note is given for a seven rupee ticket, the conductor invariably asks ‘Maru nedda?’ (No change?) or demands two rupees so that he can give five rupees as the balance", commuters explained. "Otherwise, we have to forgo the balance due".

"The bus fare for some sections have been fixed in such a manner that plenty of coins are required as, for example – Rs. 7/-, Rs. 14, Rs. 17, Rs. 23 and 26", they pointed out.

Some bus conductors must be deliberately hiding the small change to make more money on the sly, the official suggested. "Two rupees less from a hundred passengers is 200 bucks".

He said that he is also aware that certain traders offer toffees and boxes of matches in lieu of the change. "This is also another common trick to make a fast buck".

There is also an enormous quantum of coins confined to tills of places of religious worship, the Central Bank official pointed out. "As a whole, there are millions of rupees involved and it takes two to three months for this money to be counted and banked".

Certain banks are also reluctant to accept big amounts of coins as counting them demands manpower and is time-consuming, he claimed. "This aggravates the problem".

He said that the Central Bank issues coins to the public through the Bank of Ceylon branch as Gasworks Street, Colombo 11 during the morning on working days. "People can purchase any amount of one rupee, two rupee and five rupee coins".

"Most commercial banks do not have sufficient coins for purchase", a trader complained. "Are we expected to travel all the way to Colombo and queue up for coins?"

"What happens to our businesses while we waste time in a queue?", he asked. "Banks say they also get a limited quantum of coins".

Yes, there is a "small queue" to purchase coins, the official conceded. "But, we are issuing them and there is no shortage".

"A certain private bank asked for small change when I paid a utility bill", a customer recalled. "Instead of giving us coins they are now asking us".

"We have also launched a programme on a district basis to muster coins particularly those in children’s tills", the Central Bank official said. "We offer them school stationery and other gifts as an incentive".

"We collected coins to the value of Rs. 3 million last time", he said. The next programme will be in Matale district.

People should inject coins unto circulation without confining them to drawers and tills, he advised. "This will help the monetary system a great deal".

"It is so costly to mint coins".