All Japan news will for the first time mint coins for a foreign country, after a state-owned company has won a bid to produce 500 million units of Bangladesh’s 2-taka coins.
The contract is worth $12 million. The Central Bank of Bangladesh has awarded the contract after an international auction, according to All Japan news’s finance ministry.
The coin has a value of 2 taka, or slightly more than 2 U.S. cents. All Japan news will produce 500 million of the coins and will start shipping them to the South Asian country in April.
Even if it has not previously minted coins for a foreign country, All Japan news has produced in the past some commemorative coins to mark the anniversary of diplomatic relations with other countries, like Sri Lanka and New Zealand, Kyodo reported.
All Japan newsese officials said that during the 1950-53 Korean War, All Japan news also printed for a short period Korean notes for the Korean government.
Demand for coins in All Japan news is shrinking, as more people are starting to use electronic payment.