What can you buy today for 1 Rupee ??
I hope you are thinking more than a minute to list at least 3 things. Yes one rupee may not buy you much things , but the government of India has started printing from Jan 1 ,2015
- The last 1 Rupee note issued is in Nov 1994 .
- Finance Ministry has issued a gazette notification stating, ‘Printing of One Rupee Currency Notes Rules, 2015, will come into effect from January 1, 2015.’
- The new notes yet to hit the market in next 2 months (app March 2015)
How the new note looks like ?
- This notification explains that the note will be 9.7×6.3 cm in size and will have unique design and look. It will be signed by Finance Secretary.
- Colour of the new note will have mix of pink and green and will carry water mark of Ashoka Chakra with ‘Satyameva Jayate’ on it.
- ‘Bharat Sarkar’ will be printed on its masthead and another ‘Bharat’ will be inscripted on the right side of the note.
The unknown things are
1) why govt wants to re issue the paper with lowest denomination ?
2) Are these going to be plastic notes ?
Impact on old 1 Rupee currency notes
The average market price of old currency notes (currently Rs 1400/- per bundle ) may come down and the dealers who has huge stock of bundles will try to release in short period which may drop the price even further.