Rupee symbol shortlisted and Winner Symbol by Uday

Rupee: Indian Currency and Other Countries, Rupee Symbol

The Rupee is the common name for the currency of India.  The word rupee is derived from the Sanskrit word rupya, which means silver. Which was the first rupee? When was the Rupee Symbol introduced? Countries which have Rupee has Currency, History of Rupee

Indian Rupee

The Indian rupee (sign: ₹; code: INR) is the official currency of India. The rupee is subdivided into 100 paise (singular paisa), though as of 2018, coins of denomination of 50 paise is the lowest value in use. The issuance of the currency is controlled by the Reserve Bank of India

The contemporary Indian notes are Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 & Rs 2000. These notes show the portrait of Mahatma Gandhi on the face & hence is called as Mahatma Gandhi series. Notes have two sides, the side which has the face of Mahatma Gandhi is called as Obverse & the other side is called as Reverse.

On 8 Nov 2016, the Government of India announced the demonetisation of ₹500 and ₹1000 banknotes with effect from midnight of the same day, making these notes invalid. Our article Demonetization in India 2016: Success or Failure covers Demonetization in detail.

Indian Currencies
Indian Currencies

Rupee Symbol

On 5th March 2009, a contest was announced.  President Mr.Pranab Mukherjee said, “New Indian rupee symbol should reflect our Indian culture And ethos.”

Out of 3000 designs, 5 were shortlisted, shown in the image below

Cabinet selected the definite symbol on 15 JULY 2010. The winner was Mr Udaya Kumar, Assistant Professor at IIT Guwahati.  He was awarded 2.5 lakh.  The design is based on the Tricolour, with two lines at the top and white space in between. Rupee symbol represents the Indian flag. It is a blend of Indian and Roman letters: a capital ‘R’, and Devanagari ‘ra’, which represent rupya.

Rupee symbol shortlisted and Winner Symbol by Uday
Rupee symbol shortlisted and Winner Symbol by Uday

Countries which have Rupee has Currency

The rupee is the common name for the currencies of India, Pakistan, Indonesia, Maldives, Mauritius, Nepal, Seychelles, Sri Lanka. In the Maldives, the unit of currency is known as the Rupiah, which is a cognate of the Sanskrit rupya.

Basically, the Indian rupee is referred to as simply a rupee, whereas for other countries it is mandatory for them to introduce their county name before rupee. i.e. Pakistani rupee, Nepalese rupee, Mauritius rupee, Sri Lankan rupee etc.

  • The Indian rupees (₹) and Pakistani rupees (₨) are subdivided into one hundred paise (singular paisa) or pice.
  • The Mauritian and Sri Lankan rupees subdivide into 100 cents.
  • The Nepalese rupee subdivides into one hundred paisas (both singular and double) or four sukas or two mohors.

Security Features of Indian Notes

Counterfeiting is a major problem in banknotes. To prevent counterfeiting every country includes various types of security features in their banknotes. The infographic below explains the various security features in Indian Notes. More details in our article Security Features in Indian Notes, International Notes

Security Features of the Indian Notes
Security Features of the Indian Notes

The First Rupee

The first rupee is believed to have been introduced by king Sher Shah Suri (1486–1545). Sher Khan was an Afghan emperor who founded the Suri dynasty with its capital at Delhi in India. He became a commander in the Mughal Army under Babur. In 1537, when Babur’s son Humayun was on an expedition, Sher Khan established the Suri Empire.

First rupee was introduced by Sher Shah Suri
First rupee was introduced by Sher Shah Suri

History of Rupee

The infographic from Economic Times traces the History of Rupee. Click on the image to see the bigger view

History of Rupee
History of Rupee

Where does the Word Rupee come from?

What does the word Rupee mean?

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