Facts about Indian Currency
- The official currency of India is the Indian rupee (INR).
- The rupee is denoted by the symbol “₹” and is divided into 100 smaller units called paise.
- The Reserve Bank of India (RBI) is responsible for issuing currency notes and coins in India.
- The first rupee coin was introduced in 1540 by Sher Shah Suri, a medieval Indian ruler.
- The first paper currency notes were issued by the RBI in 1861, during the British colonial period.
- The current series of banknotes in circulation in India is the Mahatma Gandhi New Series, which was introduced in 2016.
- The Mahatma Gandhi New Series banknotes have features to aid the visually impaired, including raised printing, tactile identification marks, and large numerals.
- India has one of the highest numbers of denominations in the world, with banknotes ranging from ₹1 to ₹2,000.
- The word “rupee” comes from the Sanskrit word “rūpyakam,” which means “a silver coin.”
- The design and color of each denomination of Indian currency are unique to make it easier to distinguish between them.
- The Indian rupee is one of the oldest currencies in the world, with a history dating back to the 6th century BCE when silver coins called “rupyarupa” were used in the Mahajanapada era.
- India has one of the largest currency systems in the world, with over 30 billion banknotes and coins in circulation.
- The Reserve Bank of India has a museum in Mumbai that houses a collection of rare and historic coins and currency notes from India and around the world.
- The RBI prints currency notes in 4 printing presses located in Nashik, Dewas, Mysore, and Salboni.
- The ₹10 note is made of plastic polymer, which makes it more durable and long-lasting than paper currency.
- The Indian rupee is not only used in India but also in Bhutan and Nepal, where it is accepted as legal tender.
- The ₹2000 note is the highest denomination banknote in circulation in India, which was introduced after demonetization in 2016.
- Indian currency notes feature a portrait of Mahatma Gandhi, who was an important leader of India’s freedom struggle and is widely revered as the father of the nation.
- The RBI has introduced new security features in the currency notes, such as the latent image, see-through register, and intaglio printing, to make them more difficult to counterfeit.
- The design of Indian currency notes features several symbols of India’s rich cultural heritage, such as the Red Fort, the Konark Sun Temple, and the Sanchi Stupa, among others.