The Indian Rupee (INR) is the official currency of India, symbolized by ₹. It holds significant importance as one of Asia’s oldest currencies, with its history dating back to the 6th century BCE. Initially, the Rupee was a silver coin known as the Rupiya, introduced by Sher Shah Suri during the medieval period. Its name is derived from the Sanskrit word “rupya,” meaning “wrought silver.”
Today, the modern Indian Rupee is issued and regulated by the Reserve Bank of India (RBI). It is used across the Indian subcontinent, with denominations ranging from coins (paise) to banknotes. The Rupee’s exchange rate fluctuates according to global financial markets, impacting its value against other major currencies.
Economically, India’s Rupee plays a crucial role in international trade and finance, reflecting the country’s economic strength and stability. As of recent updates, 1 USD is approximately equivalent to 75 INR, showcasing its exchange rate in the global currency markets.
The Rupee’s journey reflects India’s economic evolution and its integration into the global economy, making it a key player in the Asian financial landscape.