The Value of Change

Pocket change, that is.

I never thought as much about small change in the States as I do here. Taking a 15* rupee rickshaw ride twice a day has really brought it to the fore front of our purchasing decisions lately ... but that isn't because 15 rupees is a lot of money but rather that it is too little.

Let me explain. Denominations below 50 rupees (1, 2, 5, 10, and 20)** are more valuable in the local economy than 100 or 500 rupee notes. How so? We've had numerous experiences where a goods seller (chemist, provision store, subzi-walla) would rather under charge us than have to break our larger denomination.... which is confounding to us because we probably were asking to break the larger denomination specifically for the smaller change.

Which, is so the opposite of how we operate in the States, where if we're given more than 5 ones or heaven forbid 94 cents in change it is just plain annoying. I remember having very boisterous conversations with Allen about how useless pennies are ... whereas here, I covet 1 rupee coins.

Even though, from what I can tell, most goods seem to cost less than 20 rupees ... and most purchases (at least the one's I've over heard) are generally for < 100 rupees getting small change seems to be damn near impossible... buyers are hesitant to spend them and sellers are hesitant to give them as change (especially if you're breaking a large bill). Because we burn through it so quickly we seem to be constantly on a hunt to replenish our small-change stock.

The bank won't give us small denominations*** - and I'm not convinced that many of these small store/stall/shop owners even have bank accounts given fact that most of them will give you change for your purchase directly from their wallets.

And so the mighty quest for small change continues. I mean, hey, at least every once in a while I make some rickshaw-walla's day when I don't have anything smaller than a 50.
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* Foreigner price; read, price for people who "don't" know any better.
** For reference: currently it is about 44 rupees to the dollar.
*** It doesn't seem that the tellers at our bank handle cash, generally speaking. I only say this because there is no thick bullet proof glass separating us from them: just their desks.

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