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From 1957 to 1964, the paisa was called naya paisa (transl. 'new paisa') to distinguish it from the old paisa/pice which was a 1 ⁄ 64 subdivision of the Indian Rupee. On 1 June 1964, the term "naya" was dropped and the denomination was named paisa. Paisa has been issued in 1, 2, 3, 5, 10, 20, 25, and 50 paise coins.
The Digital Rupee (e₹) [6] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [7] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [8] Digital Rupee is using blockchain distributed-ledger technology. [9]
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.
The Indian rupee was formally established as the unlimited legal tender 18 June 1869. The rupee was decimalized 23 August 1871. Thus, the rupee of 100 cents became Ceylon's money of account and sole legal tender effective 1 January 1872, replacing sterling at a rate of Re. 1/- equalling two shillings and three pence sterling.
Between 1857 and 1930, the Nepalese rupee (two half-rupees or mohars [9]) was fixed at 1.28 per Indian rupee. [2] After this period, its value fluctuated against the Indian rupee, falling to रु1.60 = ₹1 in 1939, rising to रु0.60 = ₹1 during the Second World War and falling again afterwards. In 1952, the government of Nepal ...
Afterwards, this was changed to approximately Rs.4/76 per U.S. dollar, a devaluation of 30%, to match the Indian rupee's value. [29] This fixed exchange rate was maintained until 11 May 1972, in which the rupee was devalued to Rs.11/- per dollar. [30]
A federal budgetary allocation of INR 7 billion (US$160 million) was earmarked for immediate distribution to affected Indian provinces. Military — As part of India's rescue and aid-assistance, [ 81 ] the Indian Navy and the Indian Coast Guard deployed 32 Naval ships, seven aircraft and 20 helicopter in the Indian Ocean region.
A Spanish colonial two-reales piece ("two bits") from the Potosí Mint (today in Bolivia) In 1858, the Mint tested new designs for the cent. [ 6 ] Between 60 and 100 sets of twelve pattern coins were struck, consisting of the standard Flying Eagle obverse, a "scrawny eagle" pattern, and the Indian Head design, mated with four different wreaths ...