Indian rupee is the national currency of India.In the international classification has the designation Rs and, according to ISO 4217, the codes INR and 356. One rupee equals 100 paises. The following material will enable readers to get acquainted with this monetary unit, its history, appearance and other characteristics.
To answer the question, what is the currency in Indiaused before, it is necessary to make a short digression into the history. The national Indian monetary unit appeared around the 6th century after the birth of Christ. At that time the state ruled Farid ad-din Sher-shah Suri ibn Hasan-khan.
This monetary unit was named rupeeand was a round copper product. One rupee consisted of 40 paisas. Already under Akbar the Great in the second half of the XVI coins began to be made of silver. It should be noted that along with round rupees, rectangular banknotes were also used. Often, they were given various wishes or blessings.
Among experts and historians, twopoint of view on the issue of the origin of the name of the currency of India. According to the first of these, the word rupiah can be translated as cattle. The fact is that in the Middle Ages in India, pets played the role of money. The second version looks more plausible. Its essence lies in the origin of the name of the Indian monetary unit from the word from Sanskrit to the rupayakam, which means a silver coin.
It should be noted that in certain regionscountries, the single currency of India, depending on the local dialect, is called differently: rupaye, rupayi, rubai. But in Assam, Tripura, Orissa and West Bengal, the Indian national monetary unit is called in its own way. The basis for the name in these states was the Sanskrit tank.
It should be emphasized that the centuries-oldthe colonization of India by the British Empire has affected the quality of rupees produced in various regions of the country. So, in those days, distinguished Bengali money - sikka, Bombay - sirat and madras - arkot.
The historical currency of India remembers severalcases of devaluation. For the first time it happened in 1883. Contemporaries called this event "the time of the fall of the rupee". The reason for the first devaluation of Indian money was, oddly enough, the silver from which they were minted. The price of this metal quickly collapsed by the end of the XIX century. The rupee could not compete with the gold coins of other currencies that had circulation on the territory of the country.
It should be noted that some states of India, notwho were in colonial dependence on Great Britain, had their own bank notes. For example, Danish and French rupees or Portuguese escudos. Only after gaining state independence in 1947, the Indian rupee became the common currency of India throughout the country.
In 1966, another devaluation occurrednational monetary unit. In this regard, some states that used the rupee as a currency on the territory of their countries were forced to switch to their own monetary units. These include Qatar, Kuwait, Malaysia, Bahrain and the United Arab Emirates.
The first paper notes of Indian money beganissue Bank of Hindustan in 1770. Then, other financial institutions took up the issue of rupees. For example, the "Main Bank of Bengal and Bihar" and "Bengal Bank". To date, paper denominations of Indian money with denominations of 5, 10, 20, 50, 100, 500, 1000 and 2 thousand rupees are involved in circulation.
Along with paper bills, metal coins are also used. So, in circulation 10, 25 and 50 pais participate. And also one, two and five rupees.
For today in circulation are usedmore than 50 different varieties of Indian rupee banknotes. In addition, there are paper bills with the same value and identical design, but they are made in different colors, as well as differently protected from forgery. For example, a single denomination banknote exists in eight different variants, but it no longer participates in circulation. 10 and 100 rupees are made in nine versions. A banknote in five Indian monetary units is found in seven variants, a 20 rupee note is of two kinds, and in 50 - three.
An interesting fact is thaton all paper notes of Indian money, dignity is indicated using all official languages found in India. And they are neither much nor little, but as many as 23. The majority of denominations have a picture of the outstanding Indian political and public figure Mahatma Gandhi.
To date, the Indian rupee isfairly stable currency. Not least because of the high growth rates of the Indian economy. So, if in 2014 real GDP grew by 5.60% (43rd place in the rating), then in 2015 the growth was 7.80% (11th line of the list).
What is the exchange rate of India to the ruble?To date, the Indian rupee is quoted relative to Russian money at the level of 1 INR = 0.88 RUB. The exchange rate of India against the US dollar is 1 USD = 64.84 INR.
Special attention should be paid to existingFeatures of import and export of currency to the territory of India. For sure, the reader will be interested and probably useful in the process of planning a tourist or business trip to this country. It is prohibited to export the national currency of India. But you can take foreign currency signs to India. The amount equivalent to 2.5 thousand US dollars is allowed to be imported.
If there is a need for more, thenwill have to fill out a special declaration. In addition, a copy of this document will need to be kept in order to present banknotes in the process of reverse exchange.
It should be noted that the remaining rupeesExchange for the desired currency is allowed only in the amount of 25% of the total declared amount. It is advisable when visiting India to keep part of the money on plastic cards of international payment systems: Mastercard, American Express or Visa.
For the exchange of bank notes is bestuse the services of official financial institutions. Numerous currency scammers, trying to deceive gullible and carefree tourists, are common in this country.
Where can I exchange money, and where in India coursesare the most favorable currencies? First of all, these are banks, exchange offices located in airports, hotels, large shopping centers and other public places. During the exchange you will need to show your passport and visa. In addition, at the point for currency transactions, you should take a receipt. It is important. After all, it will be needed when doing a reverse exchange of currency. It is impossible to carry out such an operation without it. The validity of such receipt is 90 days.
