Tag: Rupee

  • What is a Rupee?

    What is a Rupee?

    What is a Rupee? Meaning, Definition!

    The rupee is the common name for the currencies of India, Indonesia, Maldives, Mauritius, Nepal, Pakistan, Seychelles, Sri Lanka, and formerly those of Afghanistan, Burma and British East Africa, German East Africa and the Trucial States. Basically, the rupee is monetary unit of India, equal to 100 paise in India, Pakistan, and Nepal. As Wall as equal to 100 cents in Sri Lanka, Mauritius, and Seychelles. What is a Rupee? a system of money in general use in a particular country.

    In the Maldives, the unit of currency is known as the rufiyah, which is a cognate of the Sanskrit rupya. 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 plural) or four sukas or two mohors. Definition of Organization, What is Glocalization? Meaning, Definition!

    Rupee Exchange Currency to per US dollar

    1. 67.84 Indian Rupee
    2. 35.95 Mauritian Rupee
    3. 108.52 Nepalese Rupee
    4. 104.85 Pakistani Rupee
    5. 13.27 Seychellois Rupee
    6. 149.76 Sri Lankan Rupee
    7. 13440.00 Indonesian Rupiah
    8. 15.36 Maldivian Rufiyaa

    “All currency Exchanging to per US dollar on a date of 24 December 2016, rupee use in the country of India, Mauritius, Nepal, Pakistan, Seychelles, Sri Lanka, and Indonesia use to Rupiah, the Maldives using Rufiyaa.”

    History of Rupee

    The history of the rupee traces back to Ancient India circa 3rd century BC. Ancient India was one of the earliest issuers of coins in the world, along with the Lydian staters, several other Middle Eastern coinages, and the Chinese wen. The term is from rūpya, a Sanskrit term for the silver coin, from Sanskrit rūpá, beautiful form.

    The Indian rupee was come first introduce issued and termed as rupiya, the silver coin, by Sher Shah Suri (1540–1545), continued by the Mughal rulers. The Kabuli rupee and the Kandahari rupee were using as currency in Afghanistan prior to 1891 when they were standardized as the Afghan rupee. The Afghan rupee, which was subdivided into 60 paisas, was replaced by the Afghan afghani in 1925. After the middle of the 20th century, Tibet’s official currency was also known as the Tibetan rupee.

    The Indian rupee was the official currency of Dubai and Qatar until 1959 when India created a new Gulf rupee (also known as the “external rupee”) to hinder the smuggling of gold. The Gulf rupee was legal tender until 1966 when India significantly devalued the Indian rupee and a new Qatar-Dubai riyal was established to provide economic stability.

    Types of Rupee used by Countries

     

     India Indian rupee INR ₹ 67.73
     Indonesia Indonesian rupiah     IDR Rp 13,024
     Maldives Maldivian rufiyaa MVR Rf 12.80
     Mauritius Mauritian rupee MUR Rs 35.65
       Nepal Nepalese rupee NPR रू 106.76
     Pakistan Pakistani rupee PKR Rs 104.67
     Seychelles    Seychellois rupee SCR SR 13.20
     Sri Lanka Sri Lankan rupee LKR රු 147.04

    What is a Rupee Meaning Definition - ilearnlot

  • Indian Rupee

    Indian Rupee

    The Indian rupee (sign: ₹; code: INR), is the official currency of the Republic of India. The Indian one rupee is equal to 100 paise (like singular paisa). In India, only the 50 paisa remains legal in 2016. 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 Indian Rupee is named after the silver coin, Rupiya, first rupee issued by Sultan Sher Shah Suri in the 16th century & later continued by the Mughal Empire.

    Indian rupees symbol was officially Changed In 2010, a new symbol ‘₹‘. 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 tricolor Indian flag. An equality sign that symbolizes 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.

    Indian Rupee Exchange to other Country Currency

    1 Indian Rupee equals
    1. 0.015 US Dollar
    2. 0.020 Australian Dollar
    3. 0.012 British Pound
    4. 0.014 Euro

    Indian Rupee Exchange to other Country Rupee

    1 Indian Rupee equals
    1. 1. 0.53 Mauritian Rupee
    2. 1.60 Nepalese Rupee
    3. 1.54 Pakistani Rupee
    4. 0.20 Seychellois Rupee

    History of Indian Rupee

    The history of the Indian rupee traces back to Ancient India in circa 6th century BCE, ancient India was one of the earliest issuers of coins in the world, along with the Chinese wen and Lydian staters.

    During his five-year rule from 1540 to 1545, Sultan Sher Shah Suri issued a coin of silver, weighing 178 grains (or 11.53 grams), which was termed the Rupiya. The silver coin remained in use during the Mughal period & Maratha era as well as in British India. Among the earliest issues of paper rupees include; the Bank of Hindustan (1770–1832), the General Bank of Bengal and Bihar (1773–75, established by Warren Hastings), and the Bengal Bank (1784–91).

    Indian Rupees Per Currency unit averaged over the Year

    Currency ISO code 1947 1966 1995 1996 2000 2004 2006 2007 2008 2009 2010 2013 2014 2015 2016
    Australian dollar AUD 27.69 26.07 33.28 34.02 34.60 36.81 38.22 42.00 56.36 54.91 48.21 49.96
    Bahraini Dinar BHD – 164.55 170.6 178.3
    Bangladeshi taka BDT – – 0.84 0.84 0.77 0.66 0.63 0.57 0.71 0.66 0.68 0.80 0.88 0.84 0.85
    Canadian dollar CAD 26.00 30.28 34.91 41.09 42.92 44.59 52.17 49.53 47.94 52.32
    Chinese Yuan CNY – 5.80 9.93 10.19 10.15
    Emirate dirham AED – – 17.47 18.26
    Euro EUR – – 44.40 41.52 56.38 64.12 68.03 60.59 65.69 70.21 72.60 75.84
    Israeli shekel ILS 13.33 21.97 11.45 10.76 10.83 17.08 16.57 17.47
    Japanese Yen JPY 1015.5 1.76 32.66 32.96 41.79 41.87 38.93 35.00 42.27 51.73 52.23 60.07 57.79 53.01 62.36
    Kuwaiti Dinar KWD – 17.80 115.5 114.5 144.9 153.3 155.5 144.6 161.7 167.7 159.2 206.5 214.3 213.1 222.4
    Malaysian Ringgit MYR – 18.59 18.65 16.47 16.37
    Maldivian rufiyaa MVR 1.00 1.33 2.93 2.91 4.58 4.76 5.01 5.23
    Pakistani rupee PKR 1.00 1.33 1.08 0.95 0.80 0.77 0.75 0.67 0.61 0.59 0.53 0.57 0.60 0.62 0.64
    Pound sterling GBP 13.33 17.76 51.14 55.38 68.11 83.06 80.63 76.38 71.33 83.63 70.63 91.08 100.51 98.11 92.00
    Russian rubled RUB 6.60 15.00 7.56 6.69 1.57 1.05 0.99
    Saudi riyal SAR 1.41 17.11 17.88
    Singapore dollar SGD – – 23.13 25.16 26.07 26.83 30.93 33.60 34.51 41.27 33.58 46.84 45.86 46.67 48.86
    Sri Lankan rupee LKR 1.33 0.63 0.64 0.58 0.47 0.46 0.45 0.46
    Swiss franc CHF 1.46 27.48 43.95 66.95 66.71 66.70 68.40
    U.S. dollar USD 3.30 7.50 32.45 35.44 44.20 45.34 43.95 39.50 48.76 45.33 45.00 68.80 66.07 66.73 67.19

    Note: All Countries Currency exchange rate into Indian rupees, 28 December 2016.