1. The Indian rupee is the official currency of India and is abbreviated as INR. It is also used as a legal tender in Bhutan and Nepal.
The rupee symbol, ₹, was designed by an Indian Institute of Technology postgraduate student, D. Udaya Kumar, in 2010.
The Reserve Bank of India is responsible for the issuance of the Indian rupee, and it has the sole authority to print and distribute currency notes
The first Indian rupee was introduced by Sher Shah Suri in the 16th century, and it was called rupiya. The word "rupee" is derived from the Sanskrit word "rupya,"
In 1957, the Indian rupee was decimalized and divided into 100 paisa. One paisa is currently the smallest denomination in circulation.
The Indian rupee has undergone significant changes in design and security features to combat counterfeiting. The latest series of banknotes introduced in 2016 has several new security features
The Indian rupee is among the top 20 most traded currencies globally, with a daily average trading volume of around $53 billion.
As of 28th February 2023, one US dollar is equivalent to approximately 73.80 Indian rupees.
The Indian rupee has faced periods of high inflation in the past, with the highest inflation rate recorded at 34.68% in September 1974.
The Indian rupee has been gradually depreciating against major currencies in recent years due to various factors, including a widening trade deficit and global economic uncertainties.