Indian Rupee

Satisfactory Essays
INTRODUCTION

The Indian rupee (sign: ₹; code: INR) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.[1]
The modern rupee is subdivided into 100 paise (singular paisa), though as of 2011 only 50-paise coins are legal tender.[2][3] Banknotes in circulation come in denominations of ₹5, ₹10, ₹20, ₹50, ₹100, ₹500 and ₹1000. Rupee coins are available in denominations of ₹1, ₹2, ₹5, ₹10, ₹50, ₹100, ₹150 and ₹1000; of these, the ₹50, ₹100, ₹150 and ₹1000 coins 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only; the only other rupee coin has a nominal value of 50 paise, since lower denominations have been officially withdrawn.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 '₹' (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.
The word "rupee" was derived from the Sanskrit word rūpyakam.
টকা (tôka) in Assamese
টাকা (taka) in Bengali
રૂપિયો (rupiyo) in Gujarati
ರೂಪಾಯಿ (rūpāyi) in Kannada, Tulu and Konkani
रुपया (rupayā) in Hindi
روپے (pronounced ropyih) in Kashmiri
रुपया (rupayā) in Konkani
രൂപ (rūpā) in Malayalam
रुपया (rupayā) in Marathi
रुपैयाँ(rupaiya) in Nepali
ଟଙ୍କା(tanka) in Oriya
ਰੁਪਈਆ (rupiā) in Punjabi
रूप्यकम् (rūpyakam) in Sanskrit (Devnagari)
रुपियो (rupiyo) in Sindhi
ரூபாய் (rūpāi) in Tamil
రూపాయి (rūpāyi) in Telugu
روپے (rupay) in Urdu
However, in the Assam, West Bengal, Tripura and Odisha the Indian rupee is officially known by names derived from the word टङ्क (ṭaṇkā), which means "money".[4] Thus, the rupee is called টকা (ṭôkā) in Assamese, টাকা (ṭākā) in Bengali and ଟଙ୍କା (ṭaṇkā) in Oriya. The amount (and the word

You May Also Find These Documents Helpful

  • Satisfactory Essays

    indian currency

    • 4278 Words
    • 14 Pages

    The Indian rupee (symbol: INR; 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.[2]…

    • 4278 Words
    • 14 Pages
    Satisfactory Essays
  • Good Essays

    Ibps Sample Paper..Tst....

    • 2767 Words
    • 12 Pages

    (1) State Bank of India is the sole authority to issue and manage currency in India. (2) A Nationalised Bank in the sole authority to issue and manage currency in India (3) A Cooperative bank is the sole authority to issue and manage currency in India. (4) RBI is the sole authority to issue and manage currency in India. (5) None of the above.…

    • 2767 Words
    • 12 Pages
    Good Essays
  • Better Essays

    ECON 3440 Week 2 Notes

    • 1220 Words
    • 5 Pages

    RE - Reserves of Charted bank. These are the currency held by chartered banks plus the deposits of chartered banks at the central bank.…

    • 1220 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    ECO - REPO RATE

    • 1928 Words
    • 11 Pages

    The Reserve Bank of India (RBI) is India's central banking institution, which controls the monetary policy of the Indian…

    • 1928 Words
    • 11 Pages
    Satisfactory Essays
  • Good Essays

    From figure: 1, it is evident that within the time period of 5 years (2005 – 2010), the Indian Rupee hovered in the range between 44 (approximately) to 46 against the US Dollar displaying its maximum appreciation in value in the first quarter of 2008 when the US economy was suffering from its worst phase of recession triggered by the ‘bubble – bust’ in the housing sector due to sub – prime crisis. However, the first two quarters of 2009 observed the steady appreciation of US Dollar against Indian Rupee again followed by gradual declines and finally stabilizing around the nominal exchange rate of 1 US Dollar = 46 Indian Rupees by the end of 2010.…

    • 878 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Study ethics (hindi)

    • 12362 Words
    • 50 Pages

    Since we were under British rule our rupee was pegged to pounds. From 1927 to 1966, it was 13 rupees = 1 pound. This was maintained until 1966, when the rupee was devalued and pegged to the U.S. dollar at a rate of 7.5 rupees = 1 dollar. This value lasted until the U.S. dollar devalued in 1971.…

    • 12362 Words
    • 50 Pages
    Good Essays
  • Satisfactory Essays

    9 11 14

    • 362 Words
    • 2 Pages

    India's currency is called rupee. One rupee consists of a hundred paisa. Exchanging money in India can be a cumbersome process. A tourist may import any amount of money but he/she has to fill in a declaration form on arrival. Money has a large impact on culture because it has its own currency and that makes the Indian culture more diverse. That is why money is one of the most important thing in the Indian culture.…

    • 362 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    monetary stability in India and generally to operate the currency and credit system of the…

    • 1736 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Reserve Bank of India

    • 540 Words
    • 3 Pages

    The Reserve Bank of India is the main monetary authority of the country and beside that the central bank acts as the bank of the national and state governments. It formulates, implements and monitors the monetary policy as well as it has to ensure an adequate flow of credit to productive sectors. Objectives are maintaining price stability and ensuring adequate flow of credit to productive sectors. The national economy depends on the public sector and the central bank promotes an expensive monetary policy to push the private sector since the financial market reforms of the 1990s.[26]…

    • 540 Words
    • 3 Pages
    Good Essays
  • Good Essays

    rbi study

    • 4259 Words
    • 31 Pages

    RBI (Reserve Bank of India), India's Central Bank came into existence on 1stApril 1935 as a…

    • 4259 Words
    • 31 Pages
    Good Essays
  • Good Essays

    According to the author the Indian rupee hit a record low 62.005 per dollar before closing at 61.655 in Mumbai. He also mentions that Bombay Stock Exchange (BSE) equity index drops by 4%, largest drop in nearly 2 years and the yield on India’s 10 years government bond is at its highest since 2011. He mentions capital flight (Assets rapidly flowing out of a country or region), slow economic growth rate (9.3% for 2010-11 vs 4.8 % for 2012-13) and inflation are the main reasons for the Rupee fall. Interest rates, unemployment, foreign exchange reserves, banking capital and commodity prices also affect the value of the currency not mentioned by the author.…

    • 443 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Rathod Shailendra

    • 3097 Words
    • 13 Pages

    ABSTRACT The appreciating rupee is posing a unique set of challenges for the Indian economy. The impact would not be limited to macro economy alone but it will also affect down to the level of firms under various sections of economy. This is conceptual study based on Rupee Dollar relationship in terms of Rupee appreciation that is dollar depreciation and rupee depreciation that is dollar appreciation. It provides valuable insights into impact of changes in currency relations on various sectors of economy keeping in focus economy in general and Indian economy in particular. Pros and Cons of currency appreciation and depreciation are studied as boon and bane for the economic growth. It also provides suggestions or steps needed to control as well as to overcome ill-effects of excessive fluctuations between rupee and dollar keeping in view current trends. KEYWORDS: Appreciation, Currency Fluctuation, Depreciation, Rupee-Dollar. ___________________________________________________________________________ INTRODUCTION Global economy is much more interlinked than it was earlier due to lot of trade taking place between different countries. It goes without saying that U.S. is major trading partner for many nations and biggest trading importer of goods and services from across the world. Change in any direction in U.S. economy is directly going to affect economy of all related countries. Democratic principle and human capital has given India unique position among world community. Indian economic policies are flexible enough to get adjusted to the other nations. India has always been major country when it comes to being trading partner of U.S. which has always given economic and strategic support to country like India occupying strategic importance among world community. THE POLITICAL AND ECONOMIC HISTORY OF A COUNTRY CAN BE TRACED THROUGH ITS CURRENCY Under Bretton wood system in 1944…

    • 3097 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    History of the Indian Rupee

    • 2839 Words
    • 12 Pages

    The currency of India is the rupee. Rupee is derived from the Sanskrit rupyakam which means coin of silver ("Indian Rupee"). The rupee has transitioned through several governing bodies over its recorded history. Each transitional phase can be traced by the examples of the rupee notes as follows: early private and semi-governmental banks, Government of India, King George V, King George VI, Indo-French Territories, Indo-Portuguese Territories, Prisoner-of-War Coupons, Princely States, cash coupons of Princely States, and post Independent India (Indian Currency Collector Online).…

    • 2839 Words
    • 12 Pages
    Powerful Essays
  • Better Essays

    The Indian Economy is suddenly faced with numerous issues, among them a sharp devaluation of the national currency, the rupee. And the rupee’s performance has been much in the news in recent weeks.…

    • 2980 Words
    • 12 Pages
    Better Essays
  • Powerful Essays

    Reserve Bank of India

    • 1682 Words
    • 7 Pages

    Under Section 22 of the Reserve Bank of India Act, the Bank has the sole right to issue bank notes of all denominations. The distribution of one rupee notes and coins and small coins all over the country is undertaken by the Reserve Bank as agent of the Government. The Reserve Bank has a separate Issue Department which is entrusted with the issue of currency notes. The assets and liabilities of the Issue Department are kept separate from those of the Banking Department. Originally, the assets of the Issue Department were to consist of not less than two-fifths of gold coin, gold bullion or sterling securities provided the amount of gold was not less than Rs. 40 crores in value. The remaining three-fifths of the assets might be held in rupee coins, Government of India rupee securities, eligible bills of exchange and promissory notes payable in India. Due to the exigencies of the Second World War and the post-was period, these provisions were considerably modified. Since 1957, the Reserve Bank of India is required to maintain gold and foreign exchange reserves of Ra. 200 crores, of which at least Rs. 115 crores should be in gold. The system as it exists today is known as the minimum reserve system. Banker to Government…

    • 1682 Words
    • 7 Pages
    Powerful Essays