Thursday, April 14, 2005

My 25 paise...

The Indian Rupee (INR) (history here) is divided into a 100 paise, much like the dollar is divided into cents. It has been a long time since a paisa could get one anything, much like the cent. The coinage below the rupee is of 5 paise, 10 paise, 20 paise, 25 paise and 50 paise. There used to be coins for 1 and 2 paise, but they are not legal tender any longer.

It has been while since people stopped accepting 5, 10 and 20 paise, but now people do not accept even 25 and 50 paise ( so if something costs 12.25, you pay 12.50 or 12.00 depending on the person you transact with). Circulars have been issued or 5 paise and for the 25 and 50 paise tender but people simply dont accept it these days.

What can be done? Listen to the people? Reality is that even a local phone call comes for a minimum of a rupee, so perhaps it deserves a hearing that 25 paise gets nobody anything and hence is not worth preserving.

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