Washington: US President Donald Trump says he has directed the Treasury Department to stop minting new pennies. "For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!" Trump said in a post to social media.

According to Qatar News Agency, Trump emphasized his decision by stating, "I have instructed my Secretary of the US Treasury to stop producing new pennies." The President's decision aims to address the financial inefficiency caused by the production of pennies, which cost more to produce than their actual face value.