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To mint a 1 rupee coin, govt spends Rs 1.11

To mint a 1 rupee coin, govt spends Rs 1.11

Image credit: Shortpedia

The cost of manufacturing the 1 rupee coin is more than its value. Replying to an RTI query RBI has revealed that to mint a 1 rupee coin the govt spends Rs 1.11 which is 11 paise more than its own value. Rs 1.28 is spend for one 2 rupee coin and for Rs 10 coin govt spends Rs 5.54. Highest number on 1 rupee coins were minted in the year 2016-2017 but in last 1 year the minting of 1 rupee coin has declined.

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