India To Introduce One Rupee Note Back Into Circulation

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Author	Replies: 3 / Views: 1,161
CoinWeek Valued Member United States 127 Posts	Posted 02/20/2015 7:09 pm The following is an article excerpt from Coinweek According to a February 13 press release from Alpana Killawala, Principal Chief General Manager at the Reserve Bank of India (RBI), the Indian government is set to reintroduce one-rupee notes back into circulation. The Republic of India discontinued the production of one rupee (#8377;1) notes in November 1994 because they cost more to produce than they were worth. The government also stopped printing #8377;2 and #8377;5 notes in 1995, and since that date one-, two- and five-rupee coins have circulated instead. Read the Entire Article Report this Post to the Staff

wonghinghi Pillar of the Community Hong Kong 1270 Posts	Posted 02/21/2015 03:12 am One Indian rupee = US$0.02! Why does it bother to print this low denomination note? What does it imply? Means depreciation is happening in India? Means the lower (root) class in the country is expanding? Who can share your opinion? Report this Post to the Staff
CoinHoarder2014 New Member United States 5 Posts	Posted 02/21/2015 03:52 am That's unusual. They make 10 Rupee coins, why make 1 Rupee notes? In my opinion it's a waste of time, work, and paper, especially based on currency exchange. Report this Post to the Staff
SPQR Valued Member United States 327 Posts	Posted 02/23/2015 10:47 am According to the article, this has more to do with the Government of India showing the Reserve Bank of India who is boss. Apparently, all governments do stupid things that make no sense; today, it's India's turn. Report this Post to the Staff
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