Francais | English | Espanõl

From Wikipedia, the free encyclopedia

"INR" redirects here. For other uses, see INR (disambiguation).

The Indian rupee (Hindi: रुपया) 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, ₨, or रू. The ISO 4217 code for the India rupee is INR.

In most parts of India, the rupee is known as the rupee, rupaye, rubai, or one of other terms derived from the Sanskrit rupyakam [1] (Devnagari: रूप्यकं), raupya meaning silver; rupyakam meaning (coin) of silver. However, in the Bengali and Assamese languages, spoken in Assam, Tripura, and West Bengal, the rupee is known as a Taka, symbol ৳, and is written as such on Indian banknotes.

Contents 1 Overview 2 History 3 International use 4 Coins and banknotes 4.1 Language panel 5 Security and tactile features (source) 5.1 Tactile features 5.2 Security features 6 External links

[edit] Overview

The Indian rupee is subdivided into 100 paise (singular paisa). 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). Use of million or billion, as is standard in American or British English, is far less common. Example: The decimal amount INR 12 584 729.25 is converted to rupees one crore twenty-five lakhs eighty-four thousand seven hundred twenty-nine rupees and twenty-five paise (see Indian numbering system).

[edit] History

Main article: History of the rupee

India has been one of the earliest issuers of coins in the world (circa 6th Century BC). 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. Among the earliest issues of paper rupees were those by the Bank of Hindostan (1770-1832), the General Bank of Bengal and Bihar (1773-75, established by Warren Hastings), the Bengal Bank (1784-91), amongst others.

Historically, the rupee, derived from the Sanskrit word raupya, 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."

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. Until 1815, the Madras Presidency also issued a currency based on the fanam, with 12 fanams equal to the rupee.

Following independence in 1947, the Indian rupee replaced all the currencies of the previously autonomous states. Some of these states had issued rupees equal to those issued by the British (such as the Travancore rupee). Other currencies included the Hyderabad rupee and the Kutch kori.

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, not unlike the now largely defunct usage of "bit" in American English for 1/8 dollar.

The Indian rupee replaced the Danish Indian rupee in 1845, the French Indian rupee in 1954 and the Portuguese Indian escudo in 1961.

[edit] International use

With Partition, the Pakistani rupee came into existence, initially using Indian coins, and Indian currency notes simply overstamped with Pakistan. 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 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. This creation of a separate currency was an attempt to reduce the strain put on India's foreign reserves by gold smuggling. After India devalued the rupee on June 6, 1966, those countries still using it - Oman, Qatar and what is now the United Arab Emirates (known as the Trucial States until 1971) - replaced the Gulf rupee with their own currencies. Kuwait and Bahrain had already done so in 1961 and 1965 respectively.

The Indian rupee is also linked with the Bhutanese Ngultrum. The Indian rupee is also accepted in towns of Nepalese side of Nepal-India border and some Indian shops in the United Kingdom.

[edit] Coins and banknotes

Currently Circulating and Withdrawing Coins [2]
Value	Technical parameters				Description		Date of
	Diameter	Mass	Composition	Shape	Obverse	Reverse	first minting	last minting
5 paise	22 mm (diagonal)	1.5 g	Aluminium	Square	Emblem of India	Value	1957	1994
10 paise	16 mm	2 g	Ferritic stainless steel	Circular			1961	1998
20 paise	27 mm (longest)	2.2 g	Aluminium	Hexagon			1982	1994
25 paise	19 mm	2.83 g	Ferritic stainless steel	Circular	Emblem of India, value	Rhinoceros	1973	–
50 paise	22 mm	3.79 g				Parliament of India, map of India		–
Re. 1	25 mm	4.85 g			Emblem of India	Value, wheat	1976	–
Rs. 2	26 mm	6 g	Cupronickel	Hendecagon	Emblem of India, value	Flag and map of India	1990	–
Rs. 5	23 mm	9 g		Circular	Emblem of India	Value, flower	1992	–
For table standards, see the coin specification table.

The coins in circulation are 25 paise, 50 paise, Re. 1, Rs. 2 and Rs. 5.

• 5, 10, and 20 paise coins, although valid, have become increasingly rare in regular usage.

Mahatma Gandhi Series [3]
Image Obverse	Value	Dimensions	Main Colour	Description		Date of issue
				Obverse	Reverse
Image:5rupees.png	Rs. 5	117 x 63 mm	Green	Mahatma Gandhi	Tractor	2002
Image:10rupees.png	Rs. 10	137 x 63 mm	Orange-violet		Rhinoceros, elephant, tiger	1996
Image:20Rupees.png	Rs. 20	147 x 63 mm	Red-orange		Palm trees	2002
Image:50Rupees.png	Rs. 50	147 x 73 mm	Violet		Parliament of India	1997
Image:100Rupees.png	Rs. 100	157 x 73 mm	Blue-green at center, brown-purple at 2 sides		Himalaya Mountains	1996
N/A	Rs. 500	167 x 73 mm	Olive and yellow		Dandi March	1997
Image:500Rupees.png			Yellow			2000
	Rs. 1000	177 x 73 mm	Pink		Economy of India	2000
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes. For table standards, see the banknote specification table.

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.

All the coins and currency notes are issued by 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. Each banknote has its amount written in 17 languages (English & Hindi on the front, and 15 others on the back) illustrating the diversity of the country.

The coins are minted at four locations of the India Government Mint, and the currency notes are printed at the Currency Note Press, Nashik, Bank Note Press, Dewas, Bharatiya Note Mudra Nigam (P) Limited presses at Salboni and Mysore and at the Watermark Paper Manufacturing Mill, Hoshangabad.

ATMs usually give Rs. 100 and Rs. 500 notes, but not Rs. 1000 notes. Therefore, Rs. 1000 notes are analogous to the higher valued notes of the United States dollar and the euro.

[edit] Language panel

The language panel on Indian rupee banknotes display the denomination of the note in all the national languages of India.

[edit] Security and tactile features (source)

[edit] Tactile features

Indian currency notes and coins have various tactile and visual features to assist significantly large number of its illiterate population, and help in speedy identification of various denominations.

• Size — All notes and coins have different sizes.
• Colour — All notes have different colour combinations.
• Texture — Most of the higher denomination notes have their denominations and some of the features embossed. Also, different geometric shapes (triangle, rectangle, etc.) are embossed on left of watermark window for visually impaired.

[edit] Security features

• Watermark — White side panel of notes has Mahatma Gandhi watermark.
• Security thread — All notes have a silver security band with inscriptions visible when held against light.
• Latent image — Higher denominational notes display note's denominational value in numerals when held horizontally at eye level.
• Microlettering — Numeral denominational value is visible under magnifying glass between security thread and watermark.
• Fluorescence — Number panels glow under ultra-violet light.
• Optically variable ink — Notes of Rs. 500 and Rs. 1000 have their numerals printed in optically variable ink. Number appears green when note is held flat but changes to blue when viewed at angle.
• Back-to-back registration — Floral design printed on front and back of note coincides when viewed against light.

Use Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD
Use XE.com:	AUD CAD CHF EUR GBP HKD JPY USD

[edit] External links

• Problem of the Rupee Book by B. R. Ambedkar. History of the Rupee till 1923 A.D.
• Banknotes of India
• Coins
• Gallery of current and historical Indian banknotes
• History and Learning about banknotes from India

Rupees
Current	Indian rupee | Indonesian rupiah | Maldivian rufiyaa | Mauritian rupee | Nepalese rupee | Pakistani rupee | Seychelles rupee | Sri Lankan rupee
Defunct	Afghan rupee | Bhutanese rupee | Burmese rupee | Danish Indian rupee | (British) East African rupee | French Indian rupee | German East African rupie | Gulf rupee | Hyderabad rupee | Italian Somaliland rupia | Netherlands Indian roepiah | Portuguese Indian rupia | Riau rupiah | Travancore rupee | West New Guinean rupiah | Zanzibari rupee
Fictional	Hyrulean rupee
See also	History of the rupee
This box: view • talk • edit</div>

Currencies of Asia and the Pacific
Central	Afghan afghani | Kazakhstani tenge | Kyrgyzstani som | Mongolian tugrug | Russian ruble | Tajikistani somoni | Turkmenistani manat | Uzbekistani som
East	Chinese yuan | Hong Kong dollar | Japanese yen | Macanese pataca | North Korean won | South Korean won | New Taiwan dollar
South-East	Brunei dollar | Cambodian riel | Indonesian rupiah | Lao kip | Malaysian ringgit | Myanmar kyat | Philippine peso | Singapore dollar | Thai baht | US dollar (East Timor) | Vietnamese đồng
South	Bangladeshi taka | Bhutanese ngultrum | Indian rupee | Maldivian rufiyaa | Nepalese rupee | Pakistani rupee | Sri Lankan rupee
West	Armenian dram | Azerbaijani manat | Bahraini dinar | Cypriot pound | Egyptian pound | Georgian lari | Iranian rial | Iraqi dinar | Israeli new sheqel | Jordanian dinar | Kuwaiti dinar | Lebanese lira | Omani rial | Qatari riyal | Saudi riyal | Syrian pound | Turkish new lira | UAE dirham | Yemeni rial
Pacific	Australian dollar (Kiribati, Nauru, Norfolk Island, Tuvalu) | CFP franc (French Polynesia, New Caledonia, Wallis and Futuna) | Cook Islands dollar | Fijian dollar | New Zealand dollar (Cook Islands, Niue, Tokelau, Pitcairn Islands) | Papua New Guinean kina | Samoan tala | Solomon Islands dollar | Tongan pa'anga | US dollar (American Samoa, Guam, Northern Mariana Islands, Marshall Islands, Federated States of Micronesia, Palau) | Vanuatu vatu
This box: view • talk • edit</div>

ca:Rupia índia

de:Indische Rupie no:Indisk rupi pl:Rupia indyjska fi:Intian rupia zh:印度盧比