Indian five-rupee coins being turned into razors in Bangladesh
December 18, 2009
Five-rupee coins are being smuggled into Bangladesh from India to be melted down for making razor blades. Six razor blades can be made from a single five-rupee coin. According to police sources, each blade is sold for Rs2, reports PTI.
"This has been going on for quite some time now. We are looking into it," said HR Khan, executive director, Reserve Bank of India (RBI).
"We are now changing the metallic content of the five-rupee coin so that the new ones will not be lucrative for melting. The new metallic content of the cupronickel coin will reduce its attractiveness for smugglers," Mr Khan said.