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Isle of Man won't be adopting new UK pound

Round UK pound being phased out later this year

The Isle of Man will not being changing the shape of it's pound coins despite plans in the UK to introduce a new 12-sided design in March.

That's according to member of the Treasury, MHK Ralph Peake.

He says the Island will retain its existing coins but Treasury will monitor the situation in the UK and may follow suit in the future.

The round pound will no longer be accepted in shops across the UK from October this year, but can still be exchanged at banks.

Mr Peake says the new UK coins won't cause any disruption to existing currency on the Island:

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