value of indian currency in other countries

In coins, the frequently used ones are ₹1, ₹2, ₹5, ₹10, and the rarely used coin is the 50 paise The currency in India is circulated in two forms i.e., 1. It is printed and issued by the Reserve Bank of India. The sub-units of 100 paise are equal to the Rupee. The symbol of Indian currency is '₹' and the code is 'INR' which stands for 'Indian Rupee'. The official currency of India is the 'Rupee'(₹). This is because there are many people involved in criminal activity who use fake currency to exchange goods and services. In this blog ahead we will read more about the Indian currency, its value and examples.ĭid you know that India was one of the largest economies with an annual GDP of $1.5 trillion and a population of 1.3 billion? Unfortunately, India’s economy has been subjected to counterfeiting due to the cash-based economy in the country. Generally, large denominations are the most forged bills.

Over the years, RBI was compelled to change and upgrade INR notes with new security features.

In ancient times it was called so because it was denominated in terms of weight and one rupya weighed 113 grams as against 62 grams for an average silver coin of that period.īefore the demonetization of ₹ 500 and ₹ 1000 notes, the country’s economy used to be cash-based, resulting in the circulation of counterfeit currencies by those involved in criminal activity.

The name 'rupee' is a derivation of the Sanskrit word rupya which means 'image'. The Indian Rupee is the official currency of India.

Value of indian currency in other countries