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In 1992, a new stainless steel rupee coin, smaller and lighter than the older rupee, was minted, alongside a 5 rupee Cupronickel coin. In 2005, the 10 rupee coin was minted for the first time. Higher denomination coins were introduced due to an increasing demand for change and the increasing cost of printing ₹2, ₹5 and ₹10 banknotes.
Five-rupee coins, made from brass, are being minted by the Reserve Bank of India (RBI). In 1997 the 20 paise coin was discontinued, followed by the 10 paise coin in 1998, and the 25 paise in 2002. Between 2005 and 2008 new, lighter fifty-paise, one-, two-, and five-rupee coins were introduced, made from ferritic stainless steel.
Singapore dollar, but all circulating coins are in multiples of 5 cents. South African rand, but all circulating coins are in multiples of 10 cents. Sri Lankan rupee; Surinamese dollar; Swazi lilangeni; New Taiwan dollar, but all circulating coins are in multiples of 50 cents. Tanzanian shilling; Tongan paʻanga (as seniti) Trinidad and Tobago ...
Currently in India (from 2010 onwards), the 50 paise coin (half a rupee) is the lowest valued legal tender coin. Coins of 1, 2, 5, and 10 rupees and banknotes of 5, 10, 20, 50, 100, 200, 500, and 2000 rupees are commonly in use for cash transaction.
The Indian paisa (plural: paise) is a 1 ⁄ 100 (one-hundredth) subdivision of the Indian rupee. The paisa was first introduced on 1 April 1957 after decimalisation of the Indian rupee. [1] In 1955, the Government of India first amended the Indian Coinage Act and adopted the "metric system for coinage".
The rupee was the currency of Britain's East African colonies and protectorates between 1906 and 1920. It was divided into 100 cents. The rupee replaced the Indian rupee, which had previously circulated. In 1920, the rupee was revalued against sterling to a peg of 1 rupee = 2 shillings (1 florin).
In 1957, cupro-nickel Re. 1/- coins and .925 silver Rs. 5/- coins commemorating 2,500 years of Buddhism were issued. In 1963, a new coinage was introduced which omitted the monarch's portrait, depicting instead The Armorial ensign of Ceylon. Coins issued were aluminium 1c and 2c, nickel brass 5c and 10c and cupro-nickel 25c and 50c and Re. 1/-.
A corn sheaf replaced the tiger on the one rupee coin. The monetary system was retained with one rupee consisting of 16 Annas. The 1955 Indian Coinage (Amendment) Act, that came into force with effect from 1 April 1957, introduced a "Decimal series". The rupee was now divided into 100 'Paisa' instead of 16 Annas or 64 Pice.