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No change to spare
The Indian city of Calcutta is having a coin shortage. No one knows why but it's causing quite a stir. Shopkeepers are begging beggars to give them change, and entrepreneurial types are standing in long lines to turn in paper money for coins — then turning around and selling the coins for more than they're worth. India's reserve bank issued a million rupees yesterday, but not much has... changed.
Posted on June 15, 2007 7:38 AM PT | Permalink
Comments (1)
I happen to come across a news article recently which said - these coins are being taken to nearby cities / countries, and are being sold for it metal value, and it seems to get a higher price. Something similar to the cents/penny story that happened in US recently.
Posted by Sebastian Joseph | June 15, 2007 2:56 PM PT
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