This is the latest exchange rate for the Rupee today which is the official currency of India. The currency is the Indian Rupee with symbol code: INR.
The INR exchange rate is affected by economic conditions within India. Things such as interest rate changes, GDP and unemployment can affect the Rupee currency. Economic policies in India are set by the Reserve Bank of India at regular meetings throughout the year.
|1 Rupee =||0.02 USD|
|1 Rupee =||0.01 EUR|
|1 Rupee =||0.01 GBP|
This table displays other common conversions of the Rupee in US Dollars.
|100 Indian Rupee||1.56|
|500 Indian Rupee||7.79|
|1000 Indian Rupee||15.59|
About The Rupee
The rupee has been the official currency of the Republic of India since ancient times. Its first recorded use was in the sixth century BCE, where it was among the first coins ever issued.
The word “rupee” is derived from the Sanskrit word raupya, which means either “wrought silver” or “a coin of silver.” Traditionally, rupees were made from silver. However, in the nineteenth century, the value of silver severely declined due to the discovery of large silver deposits in the United States and certain parts of Europe. This era of the coin’s history is referred to as the “fall of the rupee.”
After its fall, the rupee exchange rate and composition went through many changes over the years. Its issuance fell under the control of the British Government during the 1800s, and remained so until India gained its independence in 1947. In 1950, when the Republic of India was formed, the rupee coin reverted back to its original design, which it retains to this day.
Today, the issuance of the rupee is controlled by the Reserve Bank of India. Currently, there are both rupee banknotes and coins in circulation. Banknotes are available in denominations of 1, 2, 5, 10, 20, 50, 100, 500 and 1,000 rupees. All rupee banknotes have their amounts printed on them in 17 different languages. These include Hindi and English, as well as 15 of the 22 different official languages of India. Coins are available in denominations of 1, 2, 5 and 10.
Historical Rupee Exchange Rate Chart