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[1] [2] In the Indian 2, 2, 3 convention of digit grouping, it is written as 1,00,000. [3] For example, in India, 150,000 rupees becomes 1.5 lakh rupees, written as ₹ 1,50,000 or INR 1,50,000. It is widely used both in official and other contexts in Afghanistan, Bangladesh, Bhutan, India, Myanmar, Nepal, Pakistan, and Sri Lanka.
This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
Officially, the Indian rupee has a market-determined exchange rate. However, the Reserve Bank of India trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate.
Crore (/ k r ɔːr /; abbreviated cr) denotes the quantity ten million (10 7) and is equal to 100 lakh in the Indian numbering system.In many international contexts, the decimal quantity is formatted as 10,000,000, but when used in the context of the Indian numbering system, the quantity is usually formatted 1,00,00,000.
Searching for "million rupees" vs "lakh rupees" on Google Books returns around 540 results for the first phrase and 1280 for the second, except a very large number of the the first group are British publications from the 20th century, whereas the second group is made mostly of Indian publications.
The Indian paisa (plural: paise) is a 1 ⁄ 100 (one-hundredth) subdivision of the Indian rupee. The paisa was first introduced on 1 April 1957 after decimalisation of the Indian rupee. [1] In 1955, the Government of India first amended the Indian Coinage Act and adopted the "metric system for coinage".
The Indian numbering system is somewhat more complex: It groups the rightmost three digits altogether (until the hundreds place) and thereafter groups by sets of two digits. For example, one trillion (on the short scale ; a million millions) would thus be written as 10,00,00,00,00,000 or 10 kharab .
According to a 2018 report from the Reserve Bank of India ₹15.3 lakh crore (15.3 trillion rupees on the short scale) of the ₹15.41 lakh crore in demonetised bank notes, or approximately 99.3%, were deposited in banks, leading analysts to state that the effort had failed to remove black money from the economy.