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Saturday, July 23, 2011

Coming soon, new 50 paise, Rs 10 coins

Mumbai: The Reserve Bank on Friday said it will soon put into circulation new coins in five denominations, ranging from fifty paise to Rs 10.

“The RBI will shortly put in circulation coins of the fifty paise, one rupee, two rupees, five rupees and ten rupees denominations,” the apex bank said in a statement.

The fifty paise, Re 1 and Rs 2 coins would be of ferritic stainless steel containing iron and chromium, while the Rs 5 coins would be made of nickel brass with a varying composition of copper, zinc and nickel. The Rs 10 coins would be made of copper and nickel.

Fifty paise is the lowest valid denomination in the country now after twenty-five paise coins were withdrawn from circulation from June 30.

All the new coins would be circular in shape, with a shape and outside diameter between 19 to 27 millimetres, the statement said.

The coins would shall bear the Lion Capitol of the Ashoka Pillar and the word 'India' in English on one side and their denominational value on the reverse side.

Source: Financial Express


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