Did RBI Discontinue Old Rs 5 Coins Because of Smuggling?
[ad_1]
Last Updated: February 27, 2023, 11:42 IST The Reserve Bank of India made the 5 rupee coins thinner than the previous version. The surface value of the coin determines its worth. For instance, in the case of Rs 5, the surface value of the coin is 5. You might have noticed that the circulation of old Rs 5 coins has reduced drastically. Here the old coins are called Cupro-Nickel circular coins with 9.00 gms weight. Open your wallet and check the new Rs 5 coin. You might have felt that it weighs less than previously minted coins and is thinner. But why is there a sudden change in the appearance and circulation of the Rs 5 coin? The reason why the Reserve Bank Of India discontinued the old Rs 5 coin was illegal smuggling to Bangladesh. These old Rs 5 coins were made of metals and that too in large quantities. Hence smugglers used to export these coins to Bangladesh. This drastically reduced the circulation of the coin in our country. In Bangladesh, these coins were melted dow...