Ever wondered how much a country’s currency actually costs? How much it costs the Reserve Bank Of India Or RBI to print Indian currency. Well, here we got you the answer to this money minded question. Read to know the real cost of printing of Indian currency.
Recently, an RTI was filed that gave us an idea of how much RBI spends to print different notes of Indian currency. The data also enlighten some really interesting facts related to the printing of Indian currency.
Also Read: Why Does The United States Of America Hate India’s UPI?
As per the RTI, the cost of printing a 200 rupees Indian note is more than that of 500 rupees, which means printing 200 rupees notes has become more expensive than printing 500 rupees. Not only this, RBI informed that the cost of printing ₹10 note has exceeded the cost of printing ₹20 note. But why so? How could a smaller note price more?
So the major reason for this is the rising prices of paper used for printing currency. Well, you might be shocked to know that the RBI has currently stopped printing ₹2,000 notes, which means no new notes coming in the market for an unknown time.
So now you must be wondering how much actually it cost RBI to print the notes? So, the cost of printing thousand notes of ₹10 is ₹960, which means printing one ten rupee note costs ₹0.96. Whereas, the cost of printing one ₹20 note costs ₹0.95. Meanwhile, ₹2.29 is spent by the RBI on printing one note of ₹500 and the printing cost of a ₹50 note is ₹0.92. The printing costs of a ₹100 and a ₹200 Indian note is ₹1.77 and ₹2.37 respectively. The printing cost of the biggest Indian currency note – ₹2000 is ₹4.18 (in 2019).
Also Read: Do You Know How Much Money It Takes To Mint 1, 2 & 5 Rupee Coins?
The RBI and the central government of India print notes in four different parts of the country. Out of which two printing presses are under the RBI, two presses work under the central government of India. The presses under RBI are in Mysore and Salboni, whereas, the presses under the central government are in Nashik and Dewas. However, only the central government of India has the sole right to mint the coins. The coins are minted in Mumbai, Hyderabad, Kolkata and Noida.
