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Encyclopedia > Indian silver rupee

The Indian Rupee is the official currency of India. The issuance of the currency is controlled by the Reserve Bank of India. The most commonly used symbol for the Rupee is Rs. The ISO 4217 code for the India Rupee is INR. The Reserve Bank of India (RBI) is the central bank of India, and was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. ... ISO 4217 is an international standard describing three letter codes to define the names of currencies established by the International Organization for Standardization (ISO). ...


The Rupee is called by various names in the different parts of India depending on the local language, including Taka, Tanka, Rubai and Rupaye.

Contents


Overview

The Indian Rupee is subdivided into 100 paise (singular paisa). It is always counted in thousand (1,000), lakh (1,00,000) and crore (1,00,00,000) and seldom in million or billion. A Paisa is one-hundredth subdivision of currency, often rupees. ...


History

Historically, the Rupee, a word which means silver, was a silver coin. This had severe consequences in the nineteenth century, when the strongest economies in the world were on the gold standard. The discovery of vast quantities of silver in the U.S. and various European colonies resulted in a decline in the relative value of silver to gold. Suddenly the standard currency of India could not buy as much from the outside world. This event was known as "the fall of the Rupee." Alternative meaning: Nineteenth Century (periodical) (18th century — 19th century — 20th century — more centuries) As a means of recording the passage of time, the 19th century was that century which lasted from 1801-1900 in the sense of the Gregorian calendar. ... 1922 U.S. gold certificate The gold standard is a monetary system in which the standard economic unit of account is a fixed weight of gold. ... For other uses, see United States (disambiguation) and US (disambiguation). ...


During British rule, and the first decade of independence, it was subdivided into 16 Annas. Each Anna was subdivided into either 4 paise, or 12 pies. When Partition happened, the Pakistani Rupee came into existence, initially using Indian coins, and Indian currency notes simply overstamped with Pakistan. An Anna was a monetary unit formerly used in India. ... A Paisa is one-hundredth subdivision of currency, often rupees. ... A Pie was a monetary unit formerly used in India. ... The Partition of India was the process by which British dependencies and treaty states in the Indian subcontinent were granted independence in the 1940s. ... The Pakistani Rupee (PKR) is the official currency of Pakistan. ...


In 1957, decimalisation occurred and the rupee was now divided into 100 Naye Paise (Hindi for new paisas). After a few years, the initial "Naye" was dropped. However many still refer to 25, 50 & 75 paise as 4, 8 and 12 annas respectively. 1957 was a common year starting on Tuesday of the Gregorian calendar. ... Decimalisation (or Decimalization) refers to any process of converting from traditional units, usually of money, to a decimal system. ...


In previous times, the Indian Rupee was regarded as an official currency of other countries, including Kuwait, Bahrain, Qatar, the Trucial States (now the UAE), and Malaysia. The Indian Rupee is also linked with the Bhutanese Ngultrum. UAE redirects here; for other uses of that term, see UAE (disambiguation) The United Arab Emirates is an oil-rich country situated in the south-east of the Arabian Peninsula in Southwest Asia, comprising seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain. ... UAE redirects here; for other uses of that term, see UAE (disambiguation) The United Arab Emirates is an oil-rich country situated in the south-east of the Arabian Peninsula in Southwest Asia, comprising seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain. ... The ngultrum is the currency of Bhutan, subdivided into 100 chertrums. ...


As of 11 May 2005, the exchange rate of the rupee is 52.85 per euro, and 43.47 per US dollar. May 11 is the 131st day of the year in the Gregorian Calendar (132nd in leap years). ... 2005 is a common year starting on Saturday of the Gregorian calendar and is the current year. ... The euro (€; ISO 4217 code EUR) is the currency of twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. ... The United States dollar is the official currency of the United States. ...


Coins and Banknotes

Coins of various denominations
Coins of various denominations

The coins in circulation are 25 paise, 50 paise, Rs. 1, Rs. 2 and Rs. 5. Coins of India File links The following pages link to this file: Indian Rupee Categories: Currency images ... Coins of India File links The following pages link to this file: Indian Rupee Categories: Currency images ...

Rs. 1000 currency. The highest note in circulation
Rs. 1000 currency. The highest note in circulation

The currency notes in circulation are Rs. 5, Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500 and Rs. 1000. The current series which began in 1996 is called the Mahatma Gandhi series. A thousand rupee note from India. ... A thousand rupee note from India. ...


All the coins and currency notes are issued the Reserve Bank of India, except the Re. 1 note which was traditionally issued by the Government of India until it was withdrawn from circulation.


External Links

  • Problem of the Rupee Book by B. R. Ambedkar. History of the Rupee till 1923 A.D.
  • Reserve Bank of India


Rupees

Indian rupee | Mauritian rupee | Nepalese rupee | Pakistani rupee | Seychelles rupee | Sri Lankan rupee | Indonesian rupiah | Maldivian rufiyah The Rupee (₨ or Rs. ... The Indian Rupee is the official currency of India. ... The rupee is also the currency of Mauritius. ... The Nepalese Rupee (ISO 4217 code NPR) is the currency used in Nepal. ... The Pakistani Rupee (PKR) is the official currency of Pakistan. ... The currency of Seychelles is the rupee, divided into 100 cents. ... The rupee is the official currency of Sri Lanka, divided into 100 cents. ... Sample of Rupiah banknote The rupiah is the monetary unit of Indonesia (currency code IDR). ... First ever 100 rufiyah. ...

Formerly used rupees include: Burmese rupee | French Indian rupee | German East African rupie | Gulf rupee | Portuguese Indian rupia The Gulf Rupee, also known as the Persian Gulf Rupee (XPGR), was introduced by the Indian government as a replacement for the Indian Rupee for circulation exclusively outside the country with the Reserve Bank of India [Amendment] Act, 1 May 1959. ... The Portuguese Indian Rupia was the currency of Portuguese India until 1959. ...


Currencies of Asia and the Pacific
Central Afghan Afghani | Kazakstani Tenge | Kyrgyzstani Som | Mongolian Tugrug | Russian Ruble | Tajikistani Somoni | Turkmenistani Manat | Uzbekistani Som
East Chinese Renminbi | Hong Kong dollar | Japanese Yen | Macanese Pataca | North Korean Won | South Korean Won | New Taiwan dollar
South-East Brunei dollar | Cambodian Riel | Indonesian Rupiah | Laos Kip | Malaysian ringgit | Myanmar Kyat | Philippine peso | Singapore dollar | Thai Baht | US Dollar (East Timor) | Vietnamese dong
South Bangladeshi Taka | Bhutanese Ngultrum | Indian Rupee | Maldives Rufiyah | Nepalese Rupee | Pakistani Rupee | Sri Lankan Rupee
West Armenian Dram | Azer Manat | Bahraini Dinar | Egyptian pound | Georgian Lari | Iranian Rial | Iraqi dinar | New Israeli sheqel | Jordanian dinar | Kuwaiti dinar | Lebanese pound | Omani Rial | Qatari Riyal | Saudi Riyal | Syrian pound | New Turkish Lira | UAE dirham | Yemeni rial
Pacific Australian dollar (Kiribati, Nauru, Norfolk Island, Tuvalu)| CFP franc (French Polynesia, New Caledonia, Wallis and Futuna) | Fijian dollar | New Zealand dollar | Papua New Guinean Kina | Samoan Tala | Solomon Islands dollar | Tongan Pa'anga | US Dollar (American Samoa, Guam, Hawaii, Marshall Islands, Federated States of Micronesia, Northern Mariana Islands, Palau) | Vanuatu Vatu
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  Results from FactBites:
 
Indian Rupee - Facts, Information, and Encyclopedia Reference article (730 words)
As is standard in Indian English, large values of Indian rupees are counted in terms of thousand, lakh (100 thousand, in digits 1,00,000), and crore (10 million, in digits 1,00,00,000).
The first "rupee" is believed to be introduced by Sher Shah Suri (1486-1545), based on a ratio of 40 copper-coin pieces (paisa) per rupee.
The Gulf Rupee, also known as the Persian Gulf Rupee (XPGR), was introduced by the Indian government as a replacement for the Indian Rupee for circulation exclusively outside the country with the Reserve Bank of India [Amendment] Act, May 1, 1959.
  More results at FactBites »


 

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