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Indian rupee

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indian currency

The one rupees note (symbol: ; ISO code: INR) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.

The modern rupee is subdivided into 100 paise (singular paisa), though as of 2011 only 50-paise coins are legal tender. Banknotes in circulation come in denominations of INR5, INR10, INR20, INR50, INR100, INR500 and INR1000. Rupee coins are available in denominations of INR1, INR2, INR5, INR10, INR20,INR25, INR50, INR100, INR500 and INR1000; the coins for INR20 and above are for commemorative purposes only; the only other rupee coin has a nominal value of 50 paise, since lower denominations have been officially withdrawn.

 

The Indian rupee symbol 'INR' (officially adopted in 2010) is derived from the Devanagari consonant "र" (ra) and the Latin letter "R". The first series of coins with the rupee symbol was launched on 8 July 2011.

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. Recently RBI launched a website Paisa-Bolta-Hai to raise awareness of counterfeit currency among users of the INR.

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