Five rupee coins are being smuggled into Bangladesh from India, where they will be melted down and used to make razor blades.
Back in 2009, the Indian Reserve Bank of India was dealing with an unusual problem.
5 rupee coins were smuggled into Bangladesh and used to make razor blades.
H R Khan, the then-RBI Executive Director, indicated that they will modify the metallic composition of the cupronickel currency to make melting and processing more difficult.
According to investigations, a 5 Rs. coin may be used to make up to six razor blades. Each blade was sold for two rupees, making it a profitable illicit trade.
Security was heightened, and those who committed such acts faced harsh punishment.
According to bank officials, such smuggling operations also resulted in a sudden scarcity of coins.
To alleviate the shortfall, coins were also given through post offices.
