The INR (sign: ₹; code: INR) is the official currency of India. The rupee is subdivided into 100 paise (singular paisa), though as of 2019, coins of denomination of 50 paise or lower are no longer legal tender.
The full form of INR is the Indian National Rupee
The INR is stand for Indian National Rupee . Indian National Rupee is the official currency of the Republic of India. The INR is subdivided into 100 paise. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. The rupee is named after the silver coin, rupiya, first issued by Sultan Sher Shah Suri in the 16th century and later continued by the Mughal Empire.
In 2010, a new symbol for the rupee was officially adopted. It was designed by D. Udaya Kumar and chosen through an open competition among Indian residents. The new symbol incorporates both the Devanagari script “र” and Roman letter “R” without changing their respective pronunciations, representing “the confluence of two great cultures.”
The INR is the official currency of India
The Indian Rupee (INR) is the official currency of India. The INR is subdivided into 100 paise (singular: paisa), and the currency is also sometimes referred to as the Rupees, Paisa or Re. One INR is equal to 100 paise. The Indian rupee is divided into 100 paise (singular: paisa), and the currency is also sometimes referred to as the Rupees, Paisa or Re.
The Indian rupee was first introduced in 1526 by Sher Shah Suri, during his rule of the Delhi Sultanate. It replaced a system of weights and measures that had been in use since ancient times. After India gained independence from British rule in 1947, the Indian rupee was decimalized and renamed the “naya” (new) rupee.
In 1957, following the adoption of a new constitution, India switched to a decimal system once again, with 1 naya rupee (NR) = 100 paise. In 1960, India officially adopted the “rupee” as its sole official currency. The word “rupiah” derives from Sanskrit rupiya (“silver coin”).
Since independence, coins have been minted in one-rupee, two-rupees, five-rupees, ten-rupees and twenty-rupees denominations; while banknotes have been issued in one-, two-, five-, ten-, twenty-, fifty-, hundred- and five hundred.
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The INR is subdivided into 100 paise
The INR is subdivided into 100 paise. 1 INR is equal to 100 paise. There are coins of 25 paise, 50 paise, and 1 rupee, and 2 rupees, and notes of 5 rupees, 10 rupees, 20 rupees, 50 rupees, 100 rupees, 500 rupees, and 1000 rupees.
The INR is issued by the Reserve Bank of India
The INR is the official currency of the Republic of India. It is also known as the Indian rupee. The INR is issued by the Reserve Bank of India (RBI), the country’s central bank. The RBI is responsible for monetary policy in India.
The INR is divided into 100 paise (pronounced “pays”). One rupee is equal to 100 paise. TheINR has been pegged to the US dollar since 1993.
In terms of purchasing power, the INR is one of the weakest currencies in the world. However, due to India’s large population and strong economic growth, the INR is one of the most traded currencies in the world.
The INR is pegged to the US Dollar
The full form of INR is Indian National Rupee. The INR is pegged to the US Dollar, meaning that 1 US Dollar = 64.47 Indian rupees. This peg was introduced in 1993 and has remained unchanged since then. The main reason for pegging the INR to the US Dollar is to maintain stability in the exchange rate between the two currencies.