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What is INR?

Indian rupee - INR.

What is INR? It's Indian rupee, ₨.

Indian rupee and Mahatma Gandhi.

Mahatma Gandhi on Indian rupee.

INR as Indian rupee

INR is the currency code for the Indian rupee. Indian rupee symbol is ₨ or र. The monetary policy and issuance of the rupee is controlled by the Reserve Bank of India (RBI). The rupee is the official currency of the Republic of India. The Indian money is the 15th most traded currency by value and it is not widely held by other countries as a reserve currency. The central bank holds over $302.1 billion USD in reserves and was first established in 1934. 1 Rupee is subdivided into 100 paise. Series of customs regulations restrict the import and export of rupees, foreign nationals are forbidden from importing or exporting rupees.

Currency fact sheet

Indian rupee fact sheet.
Name Indian rupee
ISO 4217 code INR
Sign
Symbol ₨ Rs र
Coin 50 paise. ₨ 1, 2, 5, 10.
Banknote ₨ 1, 2, 5, 10, 20, 50, 100, 500, 1000.
Central bank Reserve Bank of India
Nickname taaka, rupayya, rūbāi.

More about...

More about the currency of India.

The first rupee is believed to have been introduced by Sher Shah Suri (1486–1545), based on a ratio of 40 copper pieces (paisa) per rupee.

East India Company issued own coins until 1862, even after the Company had been taken over by the Crown.

Historically, the rupee, derived from the Sanskrit word raupya, was a silver coin. This had severe consequences in the nineteenth century, when the strongest economies in the world were on the gold standard. The discovery of large quantities of silver in the U.S. and several European colonies resulted in a decline in the value of silver relative to gold, devaluing India's standard currency. This event was known as "the fall of the rupee".

Previously the Indian rupee was an official currency of other countries, including Aden, Oman, Kuwait, Bahrain, Qatar, the Trucial States, Kenya, Tanganyika, Uganda, the Seychelles and Mauritius.

Picture: Colonial India ten rupee note, 1937-1943.

The central bank of India has the sole authority to issue Indian currency notes, sample of a Colonial India ten rupee banknote from 1937-1943.

Picture: one rupee East India Company coin, 1835.

One rupee coin of Honourable East India Company from 1835, picture by Sudarshan.

Exchange rates

What is the Indian rupee exchange rate today?

Central bank of India

The Reserve Bank of India (RBI) is India's central banking institution, which controls the monetary policy of the Indian rupee. It was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934. The share capital was divided into shares of ₨100 each fully paid which was entirely owned by private shareholders in the beginning. Following India's independence in 1947, the central bank of India was nationalised in the year 1949. Indian rupee interest rate information

The Reserve Bank, bankofindia, has the sole authority to issue banknotes in India. Central bank of India, like other central banks the world over, changes the design of banknotes from time to time. The Reserve Bank has introduced currency notes in the Mahatma Gandhi Series since 1996 and has so far issued notes in the value of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 in this series.

Converters and rates

Easy to use currency converters and fresh exchange rates every weekday.

What is INR? It's Indian currency rupee. Google knows more about the money in India, it knows euro to rupee exchange rate.

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