What is the currency of India? Indian currency
Indian rupee - The currency of the Republic of India. Bank code INR. One rupee is equal to 100 paise. Values \u200b\u200bof current banknotes: 2,000, 500, 100, 50, 20, 10 and 5 rupees. Coins: 10, 5, 2 and 1 rupee. Coins with denominations of 50, 25, 20 and 10 paise are still considered legal tender, but they are practically not used.
The last series of banknotes in India is fully devoted to Mahatma Gandhi - the leader of the movement for the country's independence from Great Britain, a supporter of the method of non-violent resistance in the struggle for transformation in society. His portrait adorns the front side of all banknotes from 5 to 2,000 rupees. For example, on the back of 500 rupees - an illustration of one of the episodes of the peaceful struggle of Mahatma Gandhi against colonial taxes, the so-called Salt Camp - a procession in protest against the salt tax, uniting tens of thousands of Indians during 1930. Banknotes of 1000 rupees at the beginning of 2017 went out of circulation.
The obverse of Indian coins depicts the national emblem of the Republic of India - the capital of the column of King Ashoka, who ruled the country in the III century BC. e., with three lions looking in different directions. On the front side - face value, name of the country and year of minting.
India is a country in which money circulation was one of the first in the world. Coins found by archaeologists indicate that this happened already in the VI century BC. e., about the same time that the first Chinese wen and Lydian staters appeared. The first coins were minted from silver and copper, and the word "rupee" in Old Sanskrit means "form, stamping", as well as "silver".
Own coins were minted both under the Magyars and the Gupt dynasty. In the X-XII centuries, the country survived the Islamic invasion and became part of the Delhi Sultanate, and later entered the Mughal Empire.
For the first time, the currency was called rupees in the 16th century under the Indian padishahs Sher Shah and Akbar I. During this period, coins of the 970th silver sample were minted with a total weight of 11.534 g each.
Since the 17th century, European metropolises, such as Portugal, the Netherlands, France and Great Britain, began to colonize the Hindustan Peninsula. In the 50s of this century, India finally passed into the hands of the British, and in 1671 the East India Company began to mint rupees, and these were different for individual territories.
A unified monetary unit - the so-called government rupee with a portrait of King William IV, was released in 1731. The composition of the coin included 10.692 g of pure silver.
In the second half of the 18th century, paper rupees began to be issued, which at different times were issued by the Bank of Hindustan, the General Bank of Bengal and Bihar, and the Bengal Bank. In 1861, finally at the legislative level, the British government was vested with the exclusive right to issue money into circulation.
At the end of the 19th century, the rupee experienced a serious shock. She was one of the few monetary units in the world, nominated in silver, and not in gold. The fall in silver prices relative to gold led to a weakening of the currency by almost half.
In 1935, a reform was carried out in the country, and the authority to issue money was transferred to the Reserve Bank of India, which serves as the country's central bank to this day.
In 1947, India gained complete independence from the UK and in 1948 issued its own currency. In 1957, the rupee, in contrast to the pound at that time, became a decimal monetary unit and was equated to 100 paise.
The first serious test for the rupee of an independent state was the 1966 crisis. Its reasons were a high level of international borrowing to finance the budget deficit, insufficient liberalization of the economy, as well as a war that broke out a year earlier with Pakistan over the disputed state of Kashmir. As a result, currency quotes fell to a record 3 British pence per rupee.
The second test was the debt crisis of the early 1990s. High inflation and budget deficits led to the devaluation of the rupee by half its value. In 1985, the exchange rate was 17.50 rupees per US dollar, in 1990 - 17.50, in 1995 - 32.42, and in 2000 - more than 45. During this period, India's international debts to the USSR became a traded financial instrument, and many leading Russian banks took part in operations to transfer the rights of claim on them.
In the 2000s, the rupee rate stabilized, and today India takes the 4th place in the world in terms of GDP after the European Union as a whole, the USA and China. The growth of its economy is 7.5% per year, which corresponds to 15th place. Thus, the Republic of India is one of the most successfully developing countries of our time.
As of June 2012, the exchange rate is 55.18 Indian rupees to the US dollar, 69.08 to the euro. For one ruble, you can buy 1.69 rupees.
In the Forex market, trading in Indian rupees does not yet occupy a leading position - only about 0.5% of the total volume of transactions, or 15th place among other instruments, but it is obvious that this currency has serious prospects.
As for cash rupees, it should be borne in mind that currency transactions on the black market are prohibited by law. Currency exchange certificates should be kept. Upon entering India, amounts over 5 thousand US dollars are subject to declaration. Export from the country of Indian rupees is not allowed.
The most important question travelers visit when planning a trip to Goa: currency. Indeed, in order to calculate the travel budget and not be ruffled upon arrival in India, it is better to study the nuances of the money market in advance. A fresh currency exchange rate in Goa is available on almost all thematic sites, including on the official pages of central banks. It is updated daily and it is estimated how much it is easy to take with you. It is more difficult to decide which money is more convenient to use: cash or on plastic cards?
What is the currency in Goa
The official currency of India, the only permitted circulation, is Indian rupees. In the international classification they are designated INR.
All paper money in Goa on one side has an image of Mahatma Gandhi. Denomination: 1, 5, 10, 20, 50, 100, 500, 2000 rupees.
In November 2016, a reform was carried out: banknotes of 500 and 1000 rupees of the old type were withdrawn from circulation. The situation with the money market at that time was rather turbulent, and even critical for tourists: huge lines, the collapse in cash payments overnight. The news broadcasting the statement of the Prime Minister of India practically stopped the work of the banking system.
At the moment, the problem is still not settled. Experienced tourists recommend that you do not immediately change the entire currency in rupees and try not to take big money in exchangers. Because the only way to pay is often cash dollars. Despite the fact that their circulation in India is outside the official cash flow.
What currency to take in Goa
580 * 400 goa 13 block
The currency that will provide you with relative peace in Goa is dollars. Just in case, stock up on banknotes of different denominations. They are accepted not only by exchangers and banks. Taxi drivers, guides, owners of sheks will be happy to pay dollars. Of course, this is officially prohibited, but the money circulation in India is in many respects similar to the domestic one.
Euros are held in lesser esteem, that is, they will not be able to pay freely, unlike dollars. But changing them is easy.
Arriving from the countries of Southeast Asia, you will not be left without money. In addition to dollars and euros in exchangers, you can change the currencies of neighboring states.
If you prefer to pay by credit card, keep in mind that in Goa, trade and services are almost entirely cash oriented. The cities are small. There are ATMs in Goa at all resorts, but they do not always work smoothly: money runs out at the most unpredictable moment.
It is impossible to project for the future, but in November 2016 there was a strict limit on cash withdrawals - up to 2.0-2.5 thousand rupees at a time. At the moment, it is allowed to withdraw no more than 10.0 thousand rupees. Not the fact that this situation will not happen again in November 2018.
Currency exchange
An exchange of rupees for Goa will not be difficult at all. The state is fully tourist oriented. The only difficulty is the course. He is different everywhere. Even taxi drivers will take the currency in their own way, only the course available to them. Everywhere, with the exception of banks and official exchangers, be sure to bargain.
The rupee exchange rate against hard currencies is a loose concept for Indians. It even depends on the face value of the money exchanged.
Where is it better to change money for Goa
Arriving in Goa, the first impulse of the tourist will be to change currencies at the airport. It is logical, especially since you need to somehow get to your destination, which means you need to get rupees. It is important not to make mistakes and not immediately exchange all cash for the local currency: the dollar rate at the airport is predatory.
Change exactly as much as you need to travel to your chosen hotel or village on the coast. The amount required by taxi can be checked at the prepayment counter. Taxi drivers willingly take in dollars, just be sure to bargain. This money will be enough for a couple of days of comfortable life in Goa, so it is better to choose a route by public transport. For buses with several transfers, you will need no more than 100 rupees.
You will be given a good dollar exchange rate at travel agencies. Their offices are in all coastal towns and cities. In Morjim, you can even exchange rubles for rupees. The course is floating. On average, it is 1: 1. As an option, there are agents in Goa who accept transfers to the cards of Russian banks and issue cash rupees immediately to their hands.
Exchangers sometimes do not agree to change banknotes with a face value of less than $ 100 or make an additional margin. For Goa, this is in the order of things.
ATMs in Goa
In India, near the ATM you can find a colorful guard in the form of an Indian soldier with full uniforms with rare firearms.
ATMs in Goa are slightly different from ours. The card is read without being swallowed. The menu is simple and clear, in English. Accept MasterCard and Visa.
An alternative to ATMs is offered by the same travel agencies. Most of them have a cash-advance service. However, this is not safe; it is better to play it safe and change money.
ATMs in Goa without commission
It is unlikely that it will be possible to withdraw cash in Goa through an ATM without a commission. Because the ATM network of the State Bank of India (SBI), as well as the Bank of India (BOI) and the Canary Bank, where there will be no additional withdrawal costs guaranteed, does not cover the needs of tourists: they have a lot of branches and not very many ATMs.
Experienced travelers recommend carefully studying the rates of the issuing bank. As a rule, they all take either a commission or a fixed percentage. Cashing with MasterCard will be cheaper than with Visa cards. The size is in the range of 90-150 rubles.
Depending on which Indian bank the ATM belongs to, an additional fee may be charged to you. The most common ATMs are ICICI, HDFC, and Axis and they make tourists poorer by about 200 rupees per transaction. Although they warn about this until your final consent to carry it out.
Do not settle for a direct exchange in rubles from the card: the commercial rate will be a real shock. It is much calmer to conduct a transaction through an intermediate exchange for dollars.
The collapse of the monetary reform, which began in November 2016, despite assurances from the beginning of the year to remove restrictions, continues to this day. Due to the huge number of rupees of the old model in the hands of the population, there are no guarantees that the printing press will cope with the load in the near future. Although by the new season, which will begin in November 2018, the situation should exhaust itself.
Please note that experienced travelers advise:
- The limit on cash withdrawal from cards at some ATMs is about 10 thousand rupees. Take along several different cards if you do not want to take dollars with you. Store them in different places so as not to lose the airbag.
- Inspect the money carefully. Do not use the official dollar exchange rate for exchanging old-style bills. Bargain. Experienced travelers recommend taking at least 100 rupees for 1 dollar. This is due to the fact that when making payments in markets, in shekels or cafes, old money is accepted at a large discount.
- Change large denominated dollars to small ones in advance. This is the best option for calculations, until you get your bearings.
Everyone decides to take currency or cards with him. For a short trip for a couple of weeks, you can take dollars with you. For a longer stay, plastic is better suited: it is easier to carry with you, and do not worry about your money.
Going to Goa, monitor the situation with the money market. This season, there’s no need to wait for news, but in the new one, which will begin in November 2018, the next innovations are not excluded.
Indian rupee is the national currency of India, bank code INR. India is the first country in the world in which money circulation appeared. Rupee translated from ...
From Masterweb
27.05.2018 15:00The currency of India, the Indian rupee, has been in circulation since the 15th century. As the unit of account is also used in Nepal, Pakistan, Sri Lanka, Seychelles and Mauritius. At present, denominations of banknotes in circulation are 2000, 1000, 500, 100, 50, 20, 10 and 5 rupees. In circulation coins in denominations of 5, 2 and 1 rupee.
What is the currency in India
Indian rupee is the national currency, bank code INR. India is the first country in the world in which money circulation appeared. Rupee translated from ancient Sanskrit means "hammered silver." This name has taken root and is still the currency of India - rupee.
Currency Photo
Currently denominations of banknotes in circulation:
- Banknotes in 2000 and 1000 rupees.
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- Denominations of 500 and 100 rupees.
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- 50 rupees.
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- Banknote of 20 rupees.
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- Banknote of 10 rupees.
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- Banknote of 5 rupees.
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In circulation coins in denominations of 5, 2 and 1 rupee.
Story
It is believed that the first rupee was issued during the reign of Sher Shah in 1542. But the most widespread, as a form of payment, received during the reign of the Mongol emperor Akbar. He ruled the country from 1555 to 1605. From the start of production to the establishment of India by the British colony, the rupee production technology has remained unchanged. Coins were made only of pure silver. For workpieces, 970 sample metal was used. Each coin contained exactly 11.534 gr. No official government exchange rate was established, and coins were freely used throughout the country and abroad. The accounting value was the purity of the metal from which the coins were made and its weight. The rulers were very jealous of the quality of minted coins, since they created the prestige of the state and showed the level of its well-being.
We can say that always the shape of the coins was round, only a small historical period was it rectangular. The denomination on the coins was not minted, but health wishes were written to the current rulers and praise of the Gods. During the reign of Mughals, each of the rulers called coins by their own name.
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Since the colonization of India, a unified rupee of the East India Company was introduced, and a portrait of William IV was minted on it. The coin was 10.692 g pure silver. This event took place in 1835. From that time until the moment of exiting colonial oppression, the images of English monarchs were minted on coins. In 1861, it was decided at the legislative level that only the UK government had the exclusive right to issue money into circulation. Since 1862, the coin received the official name of the government rupee. Until 1883, the silver standard in coin production was in effect. Despite the fact that by that time the gold standard was in effect all over the world. This led to a strong decline in the value of the Indian currency; it lost competitiveness. This situation was a focused political game of England, which did not want to strengthen the Indian rupee in the world market. In this connection, in 1893 the minting of silver rupees was stopped and the era of paper money began. The rupee exchange rate began to be equated to the British pound.
In 1935, a reform was carried out, the possibility of issuing money was assigned to the Reserve Bank of India, which acts as the central bank to the present.
Having gained complete independence from Great Britain in 1947, a year later, India issued its currency. The rupee has become equal to one hundred paise.
In 1947, the ratio of Indian rupee to dollar was 1 to 3.3. That is, for 3.3 rupees you could buy 1 dollar. During the wars with China in 1962 and Pakistan in 1965, a budget deficit formed, the Indian currency depreciated to 7.57 rupees per dollar. In subsequent years, the value of money declined. In 1985, 1 dollar was already worth 12 rupees. In 1991, the country's foreign exchange reserves fell to a minimum, and this affected the value of the rupee, the rate reached 17.90 rupees per dollar.
Indian Currency Development
In 1993, the government abolished the fixed and switched to a floating exchange rate. The cost of the rupee fell sharply to 31.37 per dollar. The global economic crisis had a strong impact on the national currency, and it continued to fall. As the world situation related to wars and crises worsened, the monetary unit depreciated more and more. Now the currency of India is quite cheap, 1 dollar is 63 rupees.
Since 2005, new coins of 1.2 and 5 rupees, as well as 50 pais began to be minted from durable stainless steel, they became much easier. Coins in the form of paice almost went out of use.
Exchange rate mode
The repeated devaluation of the rupee during the existence of the state is a serious economic problem in the country. The floating exchange rate regime in India is currently being applied.
Over the long history of the issue of paper banknotes in the country, they have been issued by more than 50 different types and all of them are still in circulation. Banknotes are different in appearance and the same at face value. The practice of fastening them with a stapler after recounting led to very strong wear and decay of the bills. Banknotes began to fasten gum and paper only with the beginning of the two thousandths.
Modern banknotes
In modern India, currency is often issued in the form of commemorative coins for various events in the state, which is very popular among the population. A large number of coins were issued in honor of the birthdays of Jawaharlal Nehru and Mahatma Gandhi.
In 2009, the Government of India held a competition for the best design of the rupee symbol and, starting in 2010, the symbol chosen by national vote is printed on the rupee. This is the letter "RA" from the Devanagari alphabet, which is used in Sanskrit and Hindi.
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Large sums of money in India are called, according to the traditional Indian account system:
- 1 varnish is one hundred thousand rupees;
- 1 crore is ten million rupees;
- 1 arabb is one billion rupees.
To date, all previously issued banknotes are still used in the Indian currency. Although new banknotes are printed regularly, old banknotes have not been withdrawn from circulation until recently.
Current changes in national currency
For the first time in the country's history, at the end of 2016, there was a large exchange of banknotes, old 500 and 1000 rupee banknotes were withdrawn from circulation and exchanged for new ones. On the evening of November 8, Indian Prime Minister Narendra Modi made an unexpected announcement to everyone that the next morning the largest denominations in denominations of 500 and 1,000 rupees would become invalid. This was done to combat corruption and the black market. The authorities gave the deadline until December 30 of the current year for the exchange of currency for new banknotes. In this case, the exchange was made only if there was an identity card and the tax request for the origin of the money was satisfied, whether they were declared.
This radical monetary reform was designed to remove prohibited notes and strike the country's shadow economy.
The unexpectedly announced currency exchange in India provoked huge queues in banks and problems in the market sector. The situation caused a stir in the foreign exchange market as well, demand for dollars increased. Moreover, all major transactions began to be carried out only in non-cash form, which automatically made them controlled by the authorities. Thus, the Prime Minister declared war on the black market and corruption.
New banknotes differ from previous ones in color, patterns and size, as well as the location of security objects. A new denomination of 2,000 rupees was also issued.
Features of the appeal
A feature of the Indian currency is that absolutely on all banknotes a portrait of Mahatma Gandhi is printed - the greatest Indian citizen in the history of the country. He was the leader of the movement for independence from the UK, a supporter of non-violent methods in the struggle to improve society. Absolutely on all banknotes of all denominations his portrait is printed.
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Upon entering the country, amounts in excess of $ 5,000 are subject to declaration. Export of national currency from India is prohibited. Also prohibited the export of foreign currency in the amount greater than imported.
Indian currency: today against the ruble
Since India is an agricultural country, the climatic conditions influence the rupee exchange rate. Analysts have long noticed that with good yields, the rupee rate begins to rise. In general, at the moment its cost is in a comfortable corridor for itself and no special changes are expected.
The current rate of the Indian rupee against the ruble: in India, the currency against the ruble is 90.04 rubles per hundred Indian rupees.
You should not go to India with rubles, as it will be difficult to exchange them. The most common currency to exchange is dollars and euros. Legal currency exchange is carried out at banks, exchange offices and at the airport.
India’s currency against the ruble is constantly changing today, since its value depends on the exchange rate of the US dollar.
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1. The Indian rupee exchange rate today against foreign currencies: US dollar (USD), euro (EUR), Russian ruble (RUB), British pound (GBP), Nepalese rupee.
A convenient rupee rate converter for today and the currency calculator below shows the calculation of the Indian rupee to any amount in any currency, for example, to the ruble that you choose.
Exist banknotes 10, 50, 100, 500, 1000 Indian rupees, and also coins face value of 1, 2, 5 rupees.
They say that there are still 5,000 rupee bills, but she herself has not seen it.
1 rupee is equal to 100 paise, there are even coins of 1, 5, 10, 50 paise, but they are usually not accepted anywhere, there are exceptions only if you buy matches, the price of which is 50 paise.
2. Features of Indian rupees
1. Indian rupee is a limited convertible currency, so it is banned for export. An exception is only for the neighboring states of Nepal, Bhutan, Bangladesh and Sri Lanka.
2. Indian rupees can legally exchange to other currencies only at banks or hotels that have the appropriate license.
As a rule, in hotels foreign exchange rates are lower than in banks, and in banks often lower than in exchange points in tourist areas.
The circulation of foreign currencies in India is officially prohibited, an exception for payment of train tickets, payment at some hotels, etc., but sometimes hard currencies are also not accepted there. However, sometimes the currency can be exchanged in shops selling souvenirs, jewelry and other things, the exchange rate of rupees is usually quite high.
3. Allowed to appeal Indian rupees with holes. The fact is that in India it is customary to fasten bundles of money with a stapler, so do not be surprised. Despite this, money in India must be respected, not wrinkled and not tossed it carelessly, since money is the personification of the goddess Lakshmi.
4. Torn rupees Do not take anywhere, even if the break line is sealed. I had a case when money changer gave me a wad of money, in which there was a 1000 rupee bill with a large gap crossing the number, they refused to change it even at the Bank of India branch. I had to go to the exchange office, where they gave me 950 rupees for it.
5. Middle course the Indian rupee against the ruble in recent years (at the time of writing the post, before the crisis of 2014) in Russia ranged from 1.5-1.6 rupees per ruble (ranging from 1.52 to 1.63) depending on the dollar, so sometimes it’s convenient to simply divide the price in rupees by 1.5 to understand how much the needed thing costs in rubles.
6. Indian rupee to ruble and dollar during crises After the 2014 crisis in Russia, the Indian rupee against the ruble sharply jumped one and a half times and in 2018 it floats in the region of 1 ruble with a penny or more, since the rupee against the dollar is more stable, all other currencies are tied to it. During the Indian monetary reform in 2017, the exchange rate of new money against the dollar grew in different regions of India from 65 to 77 rupees, while old banknotes fell in price to 45-55 rupees per dollar.
The monetary unit of India is the Indian rupee (भारतीयरुपया). 1 Indian rupee is equal to 100 paise (पैसा). The international currency symbol is Rs, the international designation is INR. In circulation are banknotes in denominations of 5, 10, 20, 50, 100, 500 1000 rupees, as well as coins in denominations of 5, 2 1 rupees, 50, 25 and 10 paise. The Nepalese rupee (ratio 1: 1.6) and the Bhutanese Ngultrum (ratio 1: 1) are tied to the Indian rupee. Currency issuance is controlled by the Federal Reserve Bank of India.
With the exception of passengers traveling to Nepal, Bangladesh, Pakistan and Sri Lanka. Imported amounts of more than $ 2500 must be declared. Keep the declaration until departure. Foreign currency can be imported, but not more than the imported amount, but Indian rupees themselves are strictly forbidden to import and export from the country.
You can change foreign currency at banks, exchange offices of large hotels, shopping centers, the airport or at state exchange points. Do not forget to take a certificate at the exchange point, you will definitely need it for the reverse exchange. Banks in India are open Monday to Friday from 10: 00-14: 00, and on Saturdays until 12:00.
When exchanging currency in banks, you must provide a passport with a valid visa. You can exchange Indian rupees for another currency back when leaving India - up to 25% of the official amount of the exchange (upon presentation of bank statements received during the exchange, it is valid for 3 months).
With the exception of the US dollar and Euro, the currencies of other countries are not changed at all banks and at a less favorable rate.
Exported goods in the amount of not more than 750 rupees (for foreigners) and 6000 rupees (for citizens of India) are not subject to duty.
A cup of coffee in a cafe will cost 30 rupees, a bottle of cola - 15 rupees, saffron head safa - 75 rupees, himani oil - 25 rupees, a bottle of rum - 35 rupees.
Rupee, as a currency, is used in India, Pakistan, Sri Lanka, Nepal, Mauritius, Indonesia, Maldives, Seychelles.
History of occurrence
It is generally accepted that India is one of the first countries where they began to use coins (this is approximately the 6th century BC). The first rupee was forty pieces of copper (paisam) and was released during the reign of Sher ShahSuri (years of reign 1486-1545). The most common rupee was under Akbar in 1556-1605. It began to be cast from silver, and the weight was 11.534 g. Before that, the rupee was round, rectangular coins with wishes and blessings were also minted under Akbar. Very often, rupees were named after various coin majors.
During the time of the British East India Company (1671) they began to produce rupees that varied in quality from region to region. The English rupees were of three types: Bengal rupees or “Sikka”, Bombay rupees or “Sirat”, and Madras rupees or “Arkot”.
In 1835, they began to produce unified rupees depicting English kings. The first to be depicted was William IV. In 1862, a “government rupee” was issued, and the following division was introduced: 1 rupee \u003d 16 anna \u003d 64 paisa \u003d 192 paia. In 1815, a fan currency of 12 rupees was issued. The year 1883 was marked as the period of the "fall of the rupee." The effect of the silver standard, and not the gold one, has led to the fact that the currency has become uncompetitive.
In 1893, India switched to the issue of paper notes, and the course began to be correlated with the British pound (1 pound equaled 15 rupees). In 1947, India gained independence and replaced the currencies of its autonomous states (Danish Indian rupee, French, Portuguese escudos).
Modern banknotes
The first paper money of India was issued in the 1770s by the Bank Hindustan, then the main bank of Bengal and Bihar (1773), the Bengal Bank (1784), and in 1935 by the Reserve Bank of India. All banknotes, except 1000 rupees, are made in several versions. Recently issued banknotes have a much higher degree of protection: they are watermarks, colors, security thread. The size of the 5 rupee banknote is 63 x 117, the 10 rupee banknote is 63 x 137, and with each subsequent denomination the length of the remaining banknotes increases by 10 mm. All banknotes have an empty bright part where you can take notes, because of this, all banknotes are written out.
5 Indian rupees - Mahatma Gandhi, bank seal, Ahsoka column (on the obverse), tractor and agricultural work (on the reverse);
10 Indian rupees - Mahatma Gandhi, bank seal, Ahsoka's column (on the obverse), rhino, elephant, Bengal tiger (on the reverse);
20 Indian rupees - Mahatma Gandhi, bank seal, Ahsoka's column (on the obverse), palm trees (on the reverse);
50 Indian rupees - Mahatma Gandhi, seal of the bank, Ahsoka's column (on the obverse), parliament building (on the reverse);
The Indian Parliament Building, Sansad Bhawan, was built in 1912-1913 according to a British design. The Supreme Court of India is located in the Princely Hall of the same building.
100 Indian rupees - Mahatma Gandhi, bank seal, Ahsoka column (on the obverse), Kanchenjunga ridge (on the reverse);
This mountain range separates Nepal and India. Kanchenjunga is the 3rd highest peak in the world (8586 m above sea level). Kanchenjunga is also called the five treasures of great snows.
500 Indian rupees - Mahatma Gandhi, the seal of the bank, Ahsok's column (on the obverse), Mahatma Gandhi, leading the people (on the reverse);
Mohandas Karamchand (Mahatma) Gandhi is one of the leaders of the independent movement. His philosophy of non-violence against people has made a huge contribution to the promotion of peaceful change.
1000 Indian rupees - Mahatma Gandhi, bank seal, Ahsoka column (on the obverse), the topic of agriculture, industry and science of India (on the reverse);
There are about 200 universities in India, of which 16 are central. The technical direction in education has become widespread, especially disciplines such as agriculture and engineering.
origin of name
There are two opinions regarding the origin of the word "rupee". According to the first opinion, its modern name is "rupee", the currency received from the word "rupa" - cattle. At first glance it sounds strange. In India, cattle for a very long time served as the so-called natural money. According to another point of view, the word "rupee" comes from the Sanskrit root "rupayakam" - "silver coin". In various parts of India, the word "rupee" is pronounced differently: "rupaya", "rupae", "hack", and in the western part the currency is known under the name, which came from the word "tank" (the icon is called in Tibet).
Currency symbol
This is the letter "Ra", taken from the Devangari alphabet (one of the varieties of Indian writing). The peculiarity is that all the letters, as it were, hang down and are crossed out from above. This symbol was approved on July 15, 2010, and its author is Udaya Kumar. In other varieties of Indian script, rupee is indicated by other symbols. For example: in Konkani रु, in Punjabi ਰੁ, in Tamil ரூ.
Calculus
Modern coins
The first batch of coins after the adoption of the decimal system by India was issued in 1957. Coins were minted from bronze (1 paise), copper-nickel alloy (2-10 paise), aluminum. In 2005-2008, coins began to be minted from stainless steel, because remelting was much more expensive than the cost of scrap itself. Coins have become lighter. Now paise coins are becoming a rarity, although they are used in circulation.