The Rupee, or more specifically the Indian rupee (symbol: ₹; ISO code: INR) (Unicode U+20B9) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India. It is named after the silver coin, rupiya, first issued by Sultan Sher Shah Suri in the 16th century and later continued by the Mughal Empire.
The modern rupee is theoretically subdivided into 100 paise (singular paisa), though as of 2011 only 50 paise coins are legal tender. 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. For special bank uses there are coin of ₹20,₹60,₹100,₹150 and ₹1000. (These coins are recently launched in India by the Reserve Bank of India.)
The Indian rupee symbol '₹' (officially adopted in 2010) is derived from the Devanagari consonant "र" (ra). 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.
The modern rupee is theoretically subdivided into 100 paise (singular paisa), though as of 2011 only 50 paise coins are legal tender. 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. For special bank uses there are coin of ₹20,₹60,₹100,₹150 and ₹1000. (These coins are recently launched in India by the Reserve Bank of India.)
The Indian rupee symbol '₹' (officially adopted in 2010) is derived from the Devanagari consonant "र" (ra). 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.
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