For Eid, Chillar Sold At 25% Premium

The twin cities of Hyderabad and Secunderabad are facing a huge shortage of "chillar" (small change) in view of Eid-ul-Fitr. In fact, it is being sold at a premium of 25% by several roadside vendors in the city.

Muslims also stock coins and small-value currency notes to distribute as alms to the poor. However, thanks to huge demand and short supply, one-rupee and two-rupee coins, which are otherwise considered valueless due to inflation, are now available at a premium.

The roadside vendors sitting opposite Reserve Bank Of India building are selling coins of one-rupee, 2-rupee and 5-rupee denominations by charging an additional amount of 20-25%.

They sell coins and currency notes of other small denominations. Since people prefer to give beggars one-rupee or two-rupee coins, or a maximum of a 10-rupee note, on Eid, they buy "chillar" from these vendors.

In the absence of 5-rupee currency notes, the demand for the 10-rupee currency note has increased, and a bundle of Rs. 1,000 of 10-rupee denominations is being sold for Rs. 1,100. Pre-counted bundles of 200 and 500 coins of one-rupee denominations, and 100, 200 and 500 coins of two and five rupee denominations, are available for sale on the footpaths near RBI building, Siddambar Bazar and a few other areas, for prices ranging from 20-25% more than the actual value of the coins or currency notes.

Over 300 people are associated with the "chillar" business, which is estimated to have done a turnover of nearly Rs. 2-3 crore in the month of Ramzan alone, while the turnover does not exceed Rs. 1 crore in the rest of 11 months.

Therefore, the practice of giving alms is not only helping the poor, but is also giving birth to a new "chillar" industry. (INN)