Indian Rupee

Indian Rupee

Indian Rupee overview

The Indian rupee (sign: ₹; code: INR) is the official currency of the Republic of India. The rupee is subdivided into 100 paise (singular paisa), though as of 2018, coins of denomination of 50 paise or half rupee is the lowest value in use. 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 rupee symbol '₹', was officially adopted. It was derived from the combination of the Devanagari consonant "र" (ra) and the Latin capital letter "R" without its vertical bar (similar to the R rotunda). The parallel lines at the top (with white space between them) are said to make an allusion to the tricolour Indian flag, and also depict an equality sign that symbolises the nation's desire to reduce economic disparity. The first series of coins with the new rupee symbol started in circulation on 8 July 2011. On 8 November 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. A newly redesigned series of ₹500 banknote, in addition to a new denomination of ₹2000 banknote is in circulation since 10 November 2016. The new redesigned series is also expected to be enlarged with banknotes in the denominations of ₹1000, ₹100 and ₹50 in the coming months.On 25 August 2017, a new denomination of ₹200 banknote was added to Indian currency to fill the gap of notes due to high demand for this note after demonetisation.In July 2018, the Reserve Bank Of India released the ₹100 banknote.

1 INR to USD exchange rates chart

INR to  exchange rates chart

Indian Rupee news

Indian markets close higher on continued foreign fund inflows, strengthening rupee

The biggest gainer on both indices was Bharti Airtel.

indicative positive
Pound Sterling to Indian Rupee Exchange Rate Outlook Clouded Near 2-Month-Lows amid UK Political Turmoil
Pound Sterling to Indian Rupee Exchange Rate Outlook Clouded Near 2-Month-Lows amid UK Political Turmoil

Friday's Pound to Indian Rupee (GBP/INR) exchange rate recovery was modest compared to Thursday's plummet, and investors awaited further UK political news.

conditional neutral
How sharp crude oil price fall actually hurt Indian economy, JP Morgan’s Sajjid Chinoy explains

Sajjid Chinoy said it is misleading to say that Indian rupee is Asia's worst performing currency. People generally look at the dollar-rupee rate, but it's the trade-weighted exchange rate -- the real exchange rate -- that matters for the economy.

indicative negative
Rupee extends gain, trades at 71.89 per dollar
Rupee extends gain, trades at 71.89 per dollar

USD-INR pair is expected to quote in the range of 72.20 and 72.80, says Motilal Oswal.

subjunctive negative
The worst may be over for the Indian rupee—for now

However, currency volatility is likely to remain.

indicative neutral
India rupee latest: INR continues to appreciate against US dollar on lower oil prices

INDIA has continued to be boosted by lower oil prices as the rupee remained in a stabilised position against the US dollar.

indicative positive
Closing Bell: D-Street ends rangebound day on a flat note, Nifty holds 10,550; pharma, IT crack
Closing Bell: D-Street ends rangebound day on a flat note, Nifty holds 10,550; pharma, IT crack

Asian Paints, Tata Steel, HPCL and BPCL are the top gainers, while Sun Pharma, Infosys, and Zee Entertainment lost the most.

indicative neutral
Election cycle anxiety? Sensex, Nifty end flat even as Indian rupee jumps 50 paise vs US dollar | Business News

On the other hand, official data showed that India's annual rate of inflation based on wholesale prices rose to 5.28 per cent in October from 5.13 per cent in September.

indicative negative
Rupee rises to 72 level against dollar as crude oil price nears $65 per barrel

The Indian rupee hit the 72 per dollar level for the first time since September 21 as oil prices posted the deepest plunge more than three years in the international market. Brent crude, used to price international oils, dropped 30 percent to $65.17 a bar

indicative negative

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