INDIAN RUPEE Meaning and
Definition
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The Indian Rupee is the official currency of India, a country in South Asia. It is denoted by the symbol "₹" and the currency code "INR" (Indian National Rupee). The word "rupee" is derived from the Sanskrit word "rupya," which means "silver coin."
The Indian Rupee is issued and regulated by the Reserve Bank of India, the country's central bank. It is divided into 100 paise, although paise coins are rarely used in modern transactions. The denominations of Indian Rupee notes currently in circulation are 10, 20, 50, 100, 200, 500, and 2000.
The value of the Indian Rupee fluctuates in the foreign exchange market, much like any other currency. It is commonly exchanged for other major currencies like the US Dollar, Euro, or British Pound. The conversion rates between the Indian Rupee and other currencies are determined by market demand and supply dynamics.
The Indian Rupee has played a significant role in India's economic history, participating in shaping the nation's growth and development. As one of the world's most traded currencies, it facilitates domestic and international transactions, including trade, tourism, and investment. The Indian Rupee's value influences various economic indicators, such as inflation, interest rates, and exchange rates, and impacts both domestic and international trade.
Overall, the Indian Rupee is the legal tender and national currency of India, essential for financial transactions and exchanges within the country, as well as internationally in commercial and tourist activities.
Common Misspellings for INDIAN RUPEE
- undian rupee
- jndian rupee
- kndian rupee
- ondian rupee
- 9ndian rupee
- 8ndian rupee
- ibdian rupee
- imdian rupee
- ijdian rupee
- ihdian rupee
- insian rupee
- inxian rupee
- incian rupee
- infian rupee
- inrian rupee
- ineian rupee
- induan rupee
- indjan rupee
- indkan rupee
Etymology of INDIAN RUPEE
The word "Rupee" has its origin in the Sanskrit word "rupya" which means "wrought silver" or "coin". The Sanskrit term was then adopted and adapted by several languages in the Indian subcontinent, including Hindi, Urdu, Bengali, Telugu, and Kannada. The term "Rupee" has been used for various currencies throughout history, including the Indian Rupee, Pakistani Rupee, Nepalese Rupee, and Sri Lankan Rupee.
As for the word "Indian", it refers to the country of India, which has used the Rupee as its official currency since ancient times. The Indian Rupee is one of the oldest continuously used currencies in the world, with a history dating back over 2,500 years. The use of the term "Indian Rupee" distinguishes it from other currencies that share the name "Rupee" in different countries.
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