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Indian coins are getting smuggled June 28, 2007

Posted by rajAT in Uncategorized.
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Millions of Indian coins are being smuggled into neighbouring Bangladesh and turned into razor blades. And that’s creating an acute shortage of coins in many parts of India.

Police in Calcutta say that the recent arrest of a grocer highlights the extent of the problem. They seized what they said was a huge coin-melting unit which he was operating in a run-down shack.

The grocer confessed to melting down tens of thousands of Indian coins into razor blades which were then smuggled into Bangladesh.

“Our one rupee coin is in fact worth 35 rupees, because five to seven bladed can be made out of it,” .

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Comments»

1. Rich Paul - September 2, 2007

Wow, their central bank must create even more inflation than our “Federal Reserve”.


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