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

Rupee tumbles 53 paise to 70.21 against USD on crude woes

At the Interbank Foreign Exchange (forex) Tuesday, the rupee opened on a sluggish note at 69.83.

6 days indicative negative
Sensex ends 106 points lower over declining banking stocks

Sensex ends 106 points lower over declining banking stocks

7 days indicative negative
Decoupling From Global Pessimism

Frank-Jürgen Richter - The Indian economy has the potential to remain decoupled from the global economic pessimism, but for that to happen, bold and sustained policy moves are required. It will be interesting to see if this government can buck the trend, , indian economy, Global Pessimism

13 days indicative positive
SOPA says India Dec soymeal export dn 24% on mo to around 200,000 tn

SOPA says India Dec soymeal export dn 24% on mo to around 200,000 tn

13 days conditional neutral
No easy time for Dollar-Rupee & GOI bonds | mydigitalfc

After testing an all time low at 74.4825 on October 11, 2018, the Indian rupee has started recovery mainly due to the decline in crude prices. The rupee closed at 69.77 levels against the dollar in the last trading session of the year witnessing a fall of Rs 5.90 or 9.24 per cent on a year-on-year (YoY) basis from its 2017 year-end level of 63.87.

13 days indicative negative
Collapse in India's onion prices could leave Modi smarting in election:

HIVARGAON/MUJAHIDPUR, India-- A spike in the price of onions has led to the ouster of governments in

19 days conditional negative
The rupee lesson for India: Why government shouldn’t create expectations it can’t meet

The rupee has fallen sharply despite govt's intervention, and so far defence policies havent worked.

about 1 month indicative positive
Falling rupee gives a boost to India’s property market

NRI buying will be decisively felt in Q4-18 numbers and helped by developer incentives

about 1 month subjunctive neutral
Indian rupee climbs to hit 3-month high

Rising for the fourth straight day, the rupee climbed to a three month high of 69.64 against the US dollar in early trade Friday. Forex traders said, increased selling of the American…

about 1 month indicative neutral

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