The Indian rupee (sign: ; code: INR) is
the official currency of the Republic of India. The issuance of the
currency is controlled by the Reserve Bank of India.
The modern rupee is subdivided into 100
paise (singular paisa), although this division is now theoretical; as of
30 June 2011, coin denominations of less than 50 paise ceased to be
legal tender.
Banknotes are available in nominal values
of 5, 10, 20, 50, 100, 500 and 1000 rupees. Rupee coins are available
in denominations of 1, 2, 5, 10, 100 and 1000; of these, the 100 and
1000 coins are for commemorative purposes only; the only other rupee
coin has a nominal value of 50 paise, since lower denominations have
been officially withdrawn.
The Indian rupee symbol (officially
adopted in 2010) is derived from the Devanagari consonant “र” (Ra) with
an added horizontal bar.
The symbol can also be derived from the
Latin consonant “R” by removing the vertical line, and adding two
horizontal bars (like the symbols for the Japanese yen and the euro).
The first series of coins with the rupee symbol was launched on 8 July 2011.
The Reserve Bank manages currency in
India.The Reserve Bank derives its role in currency management on the
basis of the Reserve Bank of India Act, 1934.
Recently RBI launched a website Paisa-Bolta-Hai to raise awareness of counterfeit currency among users of the INR.
