Indian rupee : Ask Biography

Currency

Currency name

Indian Rupee

Local name

रुपया

ISO 4217 Code

INR

Official user

Nepal , India (alongside the Indian rupee)

Unofficial user

Bhutan (alongside the Bhutanese ngultrum)

Inflation

9.22%, July 2011

ERM

Pegged by

Bhutanese ngultrum (at par)
Nepalese rupee (1 INR=1.6 NPR)

Subunit

1/100

Paisa

Symbol

Coins and Banknotes

Freq. used coins

1, 2, 5

Rarely used coins

10 paise, 25 paise, 50 paise, 10

Freq. used banknotes

10, 20, 50, 100, 500, 1000

Rarely used banknotes

1, 2, 5

Central bank

Reserve Bank of India

Printer

Reserve Bank of India

Mint

India Government Mint

Home | Currency | Indian rupee

The Indian rupee (Devanagari: रुपया) (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.

The modern rupee is subdivided into 100 paise (singular paisa) though this division is now theoretical; as of 30 June 2011, coin denominations of less than 50 paise ceased to be legal tender. Bank notes are available in nominal values of 5, 10, 20, 50, 100, 500 and 1000 rupees. Coins of the rupee are available in 1, 2, 5 and 10. Paise coins of the rupee have nominal values of 1, 2, 5, 10, 20, 25 and 50, but lower denominations are now rarely seen.

The Indian rupee symbol (officially adopted 2010) is derived from the Devanagari consonant "र" (Ra) with an added horizontal bar. The symbol can also be derived from the Latin consonant "R" by removing the vertical line, and adding two horizontal bars (like the symbols for the Japanese Yen and the Euro). The first series of coins with the rupee symbol was launched on 8 July 2011.