Indian Rupee

The Indian Rupee (INR), the official currency of India, is divided into 100 paise and managed by the Reserve Bank of India. Discover its history, exchange rates against other currencies, and the significance of its symbol, ₹, reflecting India’s heritage and aspirations.

Indian Rupee

The Indian rupee (sign: ₹; code: INR), is the official currency of the Republic of India. The Indian one rupee is equal to 100 paise (like singular paisa). In India, only the 50 paisa remains legal in 2016. The issuance of the currency is controlled by the Reserve Bank of India.

The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. The Indian Rupee is named after the silver coin, Rupiya, first rupee issued by Sultan Sher Shah Suri in the 16th century & later continued by the Mughal Empire.

Indian rupees symbol was officially Changed In 2010, a new symbol ‘₹‘. It was derived from the combination of the Devanagari consonant “र” (RA) and the Latin capital letter “R” without its vertical bar (similar to the R rotunda).

The parallel lines at the top (with white space between them) are said to allude to the tricolor Indian flag. An equality sign that symbolizes the nation’s desire to reduce economic disparity. The first series of coins with the new rupee symbol started in circulation on 8 July 2011.

Indian Rupee Exchange to Other Country Currency

1. 0.015 US Dollar
2. 0.020 Australian Dollar
3. 0.012 British Pound
4. 0.014 Euro

Indian Rupee Exchange to Other Country Rupee

1. 1. 0.53 Mauritian Rupee
2. 1.60 Nepalese Rupee
3. 1.54 Pakistani Rupee
4. 0.20 Seychellois Rupee

History of Indian Rupee

The history of the Indian rupee traces back to Ancient India in circa 6th century BCE, ancient India was one of the earliest issuers of coins in the world, along with the Chinese wen and Lydian staters.

During his five-year rule from 1540 to 1545, Sultan Sher Shah Suri issued a coin of silver, weighing 178 grains (or 11.53 grams), which was termed the Rupiya. The silver coin remained in use during the Mughal period & Maratha era as well as in British India.

Among the earliest issues of paper rupees include; the Bank of Hindustan (1770–1832), the General Bank of Bengal and Bihar (1773–75, established by Warren Hastings), and the Bengal Bank (1784–91).

Indian Rupees Per Currency unit averaged over the Year

Note: All Countries Currency exchange rate into Indian rupees, 28 December 2016.