Nov 01, 2024 02:48 PM IST
Nevertheless, others just like the ₹2, ₹5 and ₹10 cash have a less expensive manufacturing value which does not exceed their denominated worth.
Producing the common-or-garden one-rupee coin prices the Indian authorities greater than its face worth. Based on a 2018 report from India Right this moment, which cited authorities responses to an RTI request, the coin, which has been in circulation since 1992, prices ₹1.11 to mint, surpassing its personal worth.
The common-or-garden one rupee coin is made out of stainless-steel and measures 21.93 millimeters in diameter, 1.45 millimeters in thickness, and weighs 3.76 grams.(Representational Picture/Pixabay)
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Fabricated from stainless-steel, the one-rupee coin measures 21.93 mm in diameter, 1.45 mm in thickness, and weighs 3.76 grams. Different coin denominations, nevertheless, value barely much less to provide, with the ₹2 coin costing ₹1.28, the ₹5 coin ₹3.69, and the ₹10 coin ₹5.54 to mint.
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All these cash are minted by the Indian Authorities Mint (IGM) in Mumbai and Hyderabad. The Hyderabad Mint disclosed these manufacturing prices, however the Mumbai Mint refrained, citing confidentiality underneath Part 8(1)(d) of the RTI Act, 2005.
The federal government reported that 2.201 billion cash had been minted within the 2016-17 fiscal yr, with 2.151 billion minted the earlier yr. Whereas latest information on manufacturing prices stay undisclosed, inflation between 2018 and 2024 possible elevated the expense of minting every coin.
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