Currency Rates for Indian Rupee
Bank Exchange Rates for India - INR - Indian Rupee - ₹. The foreign exchange rates for India also known as the ISO code INR or the Indian Rupee currency and as a symbol ₹.
Coins in circulation are available in denominations of 1, 2, 5 and 10 rupees, whilst banknotes are available in denominations of 1, 5, 10, 20, 50, 100, 500, 1,000 rupees. Send Money Transfer to India.
The Indian Rupee is the currency of India. One Rupee is further into 100 paise. As of 2011, 25 paise are no longer considered a legal tender. A new symbol for the currency was adopted in 2010 which was taken from the Hindi consonant Ra and the English capital letter R. The lines at the top are believed to make an illusion to the Indian national Tricolour.
1. History of the Currency:
Sher Shah issued a silver coin Rupiya weighing 11.55 grams. This coin continued to be used during the Mughal, Maratha and the British period. Among the earliest issues of Indian Rupee include the General Bank of Bengal and Bihar, the Bank of Hindustan and the Bengal Bank.
Traditionally, the rupee was a silver coin. The British government attempted to introduce Sterling to the British India in 1726. Following the end of the British rule in India in 1947, the Indian Rupee replaced all the notes and coins of autonomous states although the Hyderabadi currency was not demonetized till 1960. The rupee was decimalised into 100 new paise in 1958. The most recent demonetization took place in 2016.
2. Coins and Notes:
The design of the note is approved and released by the Union Government on the recommendation of the RBI. Currency notes are printed in Nasik, Devas, and Mysore. Mahatma Gandhi notes were first introduced in 1996 and since then, they have been issued by RBI as the legal tender. The printing of the 5 Rs note has also bee resumed in 2009 which was stopped earlier. Indin Rupee banknotes are available in the denomination of 1, 5, 10, 20, 50, 100, 500 and 2000.
Between 2004 to 2009, new first decimal coins were issued in the Indian Union with the denomination of 1, 2. 5, 10, 20 and 50. Coins currently in circulation are 1, 2 and 5.
The Union Government has the right to issue the coins and one rupee note. These coins are minted at Saifabad, NOIDA, Alipur, and Mumbai. The coins are issued only through the RBI terms of the RBI Act.
GBP to INR
The Republic of India’s official currency is issued by the Reserve Bank of India. It is named after the 16th Century Rupiya, issued by Shur Shah Suri.
The symbol, derived from the Devanagari consonant ‘Ra’ was officially adopted in 2010 and first appeared on coins in 2011. The name of the currency is listed in 15 languages on the back of banknotes and in English and Hindu on the front. Bank Exchange Rates for India. The foreign exchange rates for Indian Rupee also known as the ISO code INR. Send money transfer online with us with the cheapest options.