Hits a century!

Today, someone who does not have much value turned 100!

That’s the Re.1 currency note we are talking about. Though no more printed by RBI, the note, which was first printed in England in 1861, it came into circulation in India on 30th November 1917. It then had the image of King George V, the then British monarch, imprinted on the left corner.  

When first launched in 1861, it was in the form of coins. At that time they were silver coins but then the British wanted to use the silver in the Re.1 coin for making weapons for the World War 1.

One silver coin of Re.1 at that time weighed 10.7 gms of silver  and today, the value of 10 gms of silver is around Rs.400. Thus in 100-years, the value of Re.1 has depreciated over 100 times!

Re.1 is still very much in demand as people prefer to give these notes on auspicious occasions, where Rs.101, or Rs.51 or anything which requires Re.1 to make it auspicious is used. A bundle of Re.1 note is bought for around Rs.15,000 on some online sites.