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Indian Currency Report

History of rupee

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Shivani Mehta
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33 views3 pages

Indian Currency Report

History of rupee

Uploaded by

Shivani Mehta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Report on Indian Currency

Introduction

The Indian currency, the Indian Rupee (INR), is the official currency of India. It is regulated and

issued

by the Reserve Bank of India (RBI). The currency symbol 'Rs.' was adopted in 2010 and is derived

from the

Devanagari letter '' and the Roman letter 'R'.

History of Indian Currency

1. Ancient Era:

- The concept of currency in India dates back to ancient times, with coins made of gold, silver, and

copper.

- The Mauryan Empire introduced punch-marked coins around 300 BCE.

2. Medieval Period:

- The Mughal Empire issued coins with inscriptions in Persian and local scripts.

- Sher Shah Suri introduced the "Rupiya," which is considered the precursor to the modern Rupee.

3. Colonial Era:

- The British East India Company established a uniform monetary system in the 18th century.

- The Indian Rupee replaced regional currencies during British rule.

4. Post-Independence:

- In 1947, India adopted the Rupee as its official currency.

- Decimalization was introduced in 1957, dividing the Rupee into 100 paise.
Features of Indian Currency

1. Notes:

- Denominations range from Rs.1 to Rs.2000.

- The Mahatma Gandhi Series and the Mahatma Gandhi (New) Series are the two major currency

note series.

2. Coins:

- Denominations range from Rs.1 to Rs.20.

- Coins are made of metals like stainless steel and alloys.

3. Security Features:

- Watermarks, security threads, color-shifting ink, and microtext to prevent counterfeiting.

Economic Significance

The Indian Rupee plays a crucial role in India's economy. It facilitates trade, serves as a store of

value,

and is a medium of exchange. The currency's value is influenced by factors such as inflation, foreign

exchange

reserves, and economic policies.

Challenges and Reforms

1. Counterfeiting: Efforts are ongoing to prevent the circulation of counterfeit currency.

2. Inflation: Managing inflation to maintain the Rupee's value.

3. Digital Payments: The rise of digital payments and the push for a cashless economy.

Conclusion
The Indian Rupee is a symbol of India's economic sovereignty. With advancements in security

features and the

promotion of digital transactions, the currency continues to evolve to meet the needs of a dynamic

economy.

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