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The history of the rupee traces back to ancient times in the Indian subcontinent. The mention of rūpya by Pāṇini is seemingly the earliest reference in a text about coins. [ 2 ] The term in Indian subcontinent was used for referring to a coin.
The history of the Indian rupee traces back to ancient India around the 6th century BCE: ancient India was one of the earliest issuers of coins in the world, [14] along with the Chinese wen and Lydian staters. [15]
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.
The basic unit of currency was the Indian rupee, which was itself divided into annas (16 annas to a rupee) and pice (the old spelling of paisa – 64 pice to a rupee). [9] The lowest-denomination Indian coins, the half-pice (128 to a rupee) and the pie (192 to a rupee) were officially demonetized in 1947; while both denominations had continued ...
The Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [16] The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic ...
Indian rupee symbol in graphic form. The new sign is a combination of the Devanagari letter र ("ra") and the Latin capital letter R without its vertical bar. The parallel lines at the top (with white space between them) makes an allusion to the tricolour Indian flag and also depict an equality sign that symbolizes the nation's desire to reduce economic disparity.
The 1939 rupee is the most expensive rupee, as after 1939 all silver coins effectively became less pure, due to the shortage of silver during World War II. The 1947 rupee, half rupee, quarter rupee and anna coins are also of special interest to collectors, since that was the last year British issued coins were circulated in India.
The Indian 10-rupee banknote (₹ 10) is a common denomination of the Indian rupee.The ₹ 10 note was one of the first notes introduced by the Reserve Bank of India as a part of the Mahatma Gandhi Series in 1996.