Central bank warns against Tk 1 coin trading

November 29, 2010

The government will punish people trading coins of Tk 1 denomination for more than their value.
In a statement on Sunday, the Bangladesh Bank said it could not ascertain the reason behind the surge in demand for these yellowish coins.
The central bank statement, however, did not elaborate on the mode of punishment or penalty.
It also cautioned that unsuspecting people might fall victim to fraudulence through such transaction.
Manufacturing cost of each of the four-gram coins is Tk 0.78, which becomes even less once the three metals that the coins are made of, are mixed.
These coins contain 69 per cent copper, 30
per cent zinc and one per cent tin.
Law enforcers from different parts of the country have arrested at least 10 people for their involvement in trading the Tk 1 coins that have suddenly become more expensive falsely speculating a demand for copper.


Via: NewAge

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