World money: Indian coins

2024 Author: Sierra Becker | [email protected]. Last modified: 2024-02-26 03:46

Very interesting not only for numismatists, but for everyone who is interested in money, the rupee coin. India, Pakistan, Bangladesh, Indonesia, Sri Lanka - this is the list of countries where it is in circulation.

On all banknotes of the national currency of India, the same portrait is depicted - Mahatma Gandhi, one of the famous politicians who influenced the liberation of the state from colonial dependence. The 10 rupee note circulates almost daily in the country.

A bit of history

This money was once put into circulation in the form of silver coins by the Indian padishah Sherkhan. In honor of him, the great writer R. Kipling named the main tiger in his The Jungle Book.

The name of Indian currency comes from Sanskrit. According to one version, it comes from the word rupia, which means "silver that has been processed." According to another - from the word rura - "animals", or "cattle".

Until 1947, the state remained a British colony. The change coin of India was minted with the profiles of British monarchs. After gaining independence, the rupee exchange rate for a long timeremained pegged to the pound sterling, and only in 1993 did it become floating.

Rupee Facts

The following is known about the Indian rupee in the official financial world:

• Issuer and territory of circulation - India.
• Currency introduced in 1526.
• 1 rupee is divided into 100 pice.
• Coins and banknotes in circulation: 50 paise, 1, 2, 5 and 10 rupees - coins, 10, 20, 50, 100, 500 and 1000 rupees - paper currency.

Given that the composition of the population of India has a multinational character, the notes on banknotes are duplicated in English, Hindi and another 15 of the 22 official languages of the country.

It is forbidden to import or export the rupee from India. This does not include Nepal, Pakistan, Bangladesh and Sri Lanka. You can import US dollars, but for amounts over 2500 a declaration is required. By law, a tourist cannot take out more money than the amount he brought.

Indian rupees of different years of issue are in circulation. They have different colors and pictures, but all have an image of Mahatma Gandhi. In size, each bill, starting with a dozen, is 1 cm larger than the previous one. The most popular is a banknote of 100 rupees.

Coins of India of the early years of issue, in addition to the numerical designation, had images of fingers. This was done for the semi-literate segments of the population. Coins are used by tourists mainly for offerings to the gods, they play an insignificant role in turnover.

Coins of India during the period of colonial dependence had an unusual shape. For example, a coin with a face value of 1 anna,released in 1944, has a wavy edge. On the reverse of this coin is the profile of the English King-Emperor George VI. Some Indian coins are square with rounded corners.

Not all banks in India are engaged in the exchange of rupees for dollars. At airports, foreign exchange is subject to a special tax. Banks in coastal cities can bargain for a better deal.

Rupee at the present stage

Not so long ago, the coins of India acquired their symbol and became a recognizable currency. It consists of elements of the Indian alphabet and looks like the English letter R.

Above are two lines parallel to each other. The symbol, chosen from thousands of options sent from all over the country, represents the unity of Indian centuries-old culture and modernity.

Now the Indian rupee is easier to distinguish from the rupees of Pakistan, Sri Lanka, Indonesia, Bangladesh. The symbol is also present on banknotes.