Currency Notes and Coins – Mumbai City Money Guide and Reference

“Like any other country people visiting in Mumbai (India) needs to know about how Mumbai currency is used and what are the conversion rates, values and how it is referred locally in market. Lets have a look at types of coins and Money currency notes used in Mumbai..”

Indian Currency Notes
Indian Currency Notes With Issued Year Printed

Outdated Currency Without Issued Year Printed

IMP NOTE !!! As per Reserve Bank Of India Rules, Currency notes which do not have YEAR of PRINT (See below Image) were declared invalid after 1st April 2014. Although this is not an issue as of 2017, Still if you have doubts, pull out all your notes and check if it has YEAR printed and is valid.

Back and Front of New Rs. 500 and 1000 Currency Notes
Back and Front of New Rs. 500 and 1000 Notes

The Reserve Bank of India has decided to withdraw all currency notes issued prior to 2005, including Rs. 500 and Rs. 1000 denominations, to curb black money and fake currencies. Similarly to cut down on black marketing and corruption in India, Prime Minister of India took an uninformed decision of Demonetizing Rs.500 and Rs.1000 notes on 8th Of November 2016 in India. So be informed that those notes are invalid now.

Indian Currency Notes
Indian Currency Notes

Mumbai Currency is counted, valued and referred in ‘INDIAN Rupees (INR)‘ (unlike dollars in United States). While writing the short term of same is referred as ‘Rs.‘. Below are types of currency notes and coins and an approximate currency conversion ration as of 2009. And like its ‘cents‘ in USA for amount with value lower than a Dollar, here in Mumbai / India it was ‘Paise and Anas‘ which is a history now. Typically Rs.1 = 100 Paise (Like $1 = 100 cents).

Lowest form of currency or coin valid as of date is Rs.1 (Ek Rupiya in Hindi).

See Also : Things related to Money in Mumbai. Also, Mumbai do have a Monetary Museum by RBI.

Types of Currency Notes

  • Most commonly used and currency notes found in market during shopping, banking and other business transactions are of value Rs. 100/-, Rs.50, Rs. 20/-, Rs.10/-, Rs.5/-
  • Previously currency notes values Rs.1000/-, Rs.500/-, Rs.2/- and Rs.1/- were also valid which is now not.
  • New currency note of Rs.500 and Rs.2000 are available and valid post Demonetization

IMP NOTE ABOUT OLD NOTES (Invalid now) : Now a days fake currency rackets are found in India for major currency note of Rs.1000/- and Rs.500/- and in few cases Rs.100/- too. This duplicate fake notes looks similar to the original one. Two of the major fake currency notes series in Rs.1000/- notes are ‘2AQ‘ and ‘8AC‘ (Source Internet). Kindly take care while dealing with this series notes.

Types of Currency Coins in City

  • One can easily find coins worth Rs.10/- Rs.5/-, Rs.2, Rs.1, (50 Paise and 25 Paise are no longer accepted and valid in Market).
  • Fake Rs.10 coins are also seen floating in market which was very hard for a common man to verify and deal. Also to take care when using Rs.1 and Rs.2 coins as the size is almost same and mistakes do happen while carrying any cash transactions in Mumbai market or while travelling in city.
  • As already talking about travel, You should always carry little change handy as getting a change of Rs.100 and Rs.100 for product purchased worth Rs.5 and Rs.10 is little touch and shop keepers will immediately request you for giving change (In Hindi, ‘Chutta leke aao’).

Facts about Indian Currency

  • Do not accept Indian currency notes, torn, stick or in two piece. Only banks can accepts such notes.
  • Few funny and unmannered things which one can still find on currency notes is something written by pen. According to new RBI rules (2016-2017), A currency note can be rejected if found anything scribbled or written on it and if found guilty, can be fined,
  • Take care of personal / hand Hygiene as this notes are circulated and exchanged millions of times before reaching your hands, So you know what i mean.
  • SOme people have an habit of holding currency notes in mouth for any temporary reasons like counting or doing something else, It very unhygienic and help them educate.
  • In Mumbai market when anyone ask for change in Hindi, They will refer word ‘Chutta’ in their sentence.

Cash Withdrawal Related

Latest rules applied on all bank ATM’s which allowed any customer to withdraw money from any other banks ATM is an useful point to be noted, So for example if you have an Account in ‘Bank Of America’ with a branch here, you can use the Debit / ATM card to withdraw cash from any other banks ATM without any service changes. Kindly refer you banks terms once for withdrawal of currency and ATM related international rules to confirm.

Carrying huge Currency in cash

I though this will be an important point to be notes when talking about currency in Mumbai. If you are a tourist and are planning to use public transport like local trains or bus, it is advisable ‘NOT TO CARRY’ lots of hard cash currency notes as public transport are very crowded and risk of theft and pick pocket is very high.

Money / Currency Slang in Hindi

Some words, phrases commonly used in Busy city Mumbai are listed below with its meaning in English. Its a very local guide and Hindi to English reference for Money related.

Local Currency Slang (Hindi) Meaning in English
Ye Nakli Hai Its a Fake Currency
Note Badal ke Do Please Change and Give Another Currency Note
Chutta Hai Kya ? Do you have Change ?
Chutta Nahi Hai I Don’t Have Change
Example : Aur Ek Rupiya More One Rupee
Hazar Rupiya Thousand Rupees
Pansau Rupiya Five Hundred Rupees
Sau Rupiya Hundred Rupees
Pachas Rupiya Fifty Rupees
Bees Rupiya Twenty Rupees
Dus Rupiya Ten Rupees
Pach Rupiya Five Rupees
Do Rupiya Two Rupees (Available in Coin)
Ek Rupiya One Rupee (Coin)
Aathana Fifty Paise (Like Half a Dollar is 50 Cents)

I will highly recommend to refer, print and keep local slang handy as it will make you understand what someone meant by using few sentences and phrases which is known and famous in Mumbai.

See More in    Money Market

Greetings, I am Deven, the founder of Mumbai77. With immense passion, I have dedicated my full-time efforts to continuously learn and update important information about Mumbai city. Currently, I am a full-time blogger residing in Mumbai. Since its establishment on July 7, 2007, Mumbai77 has attracted millions of pageviews. Our website aims to provide valuable information, including my personal reviews and experiences, to assist individuals worldwide in their search for updated information about Mumbai city.
331 Google reviews
Milind Sonar
Milind Sonar
It was helpful
mahendra mehta
mahendra mehta
Give us 2024 bus timing for all rout .remove old time table
Suneeta Mestry
Suneeta Mestry
Good information about all stops. Thank you so much

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