New Delhi: The cost to manufacture a one-rupee coin is more than its value. According to a report in 2018, the cost of minting a one-rupee coin amounts to Rs 1.11. The disclosure was made by the RBI in 2018 in response to an RTI. At the same time, a 2 rupee coin costs Rs 1.28, a 5 rupee coin costs Rs 3.69 and a 10 rupee coin costs Rs 5.54.
Who prints the India currency?
Let us tell you that in Indian currency, some notes and coins are printed by the government, while some notes are printed by the Reserve Bank of India. One rupee note and all coins are printed by the government, while notes from Rs 2 to Rs 500 are printed by the Reserve Bank of India. Earlier, RBI used to print Rs 2000 note, but now RBI has decided to withdraw the Rs 2000 note. The one-rupee coin, crafted from stainless steel, features a diameter of 21.93 mm, a thickness of 1.45 mm, and a weight of 3.76 grams.
All these coins are produced by the Indian Government Mints (IGM) in Mumbai and Hyderabad. While the Hyderabad Mint revealed the production costs, the Mumbai Mint declined to disclose them, citing confidentiality under Section 8(1)(d) of the RTI Act, 2005.
All these coins are produced by the Indian Government Mints (IGM) in Mumbai and Hyderabad. While the Hyderabad Mint revealed the production costs, the Mumbai Mint declined to disclose them, citing confidentiality under Section 8(1)(d) of the RTI Act, 2005.
How much does it cost to print a note?
Talking about the cost of printing notes, it used to cost up to Rs 4 to print a 2000 rupee note and it varies a little with every few paise. Apart from this, 1000 notes of 10 rupees cost Rs 960, 1000 notes of 100 rupees cost Rs 1770, 1000 notes of 200 rupees cost Rs 2370, 1000 notes of 500 rupees cost Rs 2290.