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The Indian rupee (symbol: ₹; code: INR) is the official currency in India. The rupee is subdivided into 100 paise (Hindi plural; singular: paisa). 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 based on the … See more
Pāṇini (6th to 4th century BCE) mentions rūpya (रूप्य). While Shankar Goyal mentions it is unclear whether Panini was referring to coinage, other scholars conclude that Panini uses the term rūpa to mean a piece of … See more
British East India Company (EIC) was given the right in 1717 to mint coins in the name of the Mughal emperor Farrukhsiyar on the island of Bombay. By 1792 the EIC demonetised all … See more
Historic exchange rates
Pre-Independence
For almost a century following the Great Recoinage of 1816, and adoption of the Gold Standard, until the outbreak of World War I, the silver-backed Indian rupee lost its value against a … See moreThe history of the Indian rupee traces back to ancient India around the 6th century BCE: ancient India was one of the earliest issuers of See more
Post-independence issues
Independent pre-decimal issues, 1950–1957
India's first coins … See moreOfficially, the Indian rupee has a market-determined exchange rate. However, the Reserve Bank of India trades actively in the USD/INR currency market to impact effective exchange … See more
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