1 EUR = 82.47 INR 100 INR = 1.2126 EUR
1 CHF = 67.405 INR 100 INR = 1.4836 CHF
The Indian rupee (Hindi: रुपया, rupayā, English: " rupee ") is the name of the currency unit in India, which is emitted by the government of India and the Reserve Bank of India, Reserve Bank of India. It is divided into 100 " Paise " is often abbreviated as " retired ", " R " and " Re" and has, according to the ISO 4217 Code the term " INR ". Today's coins have a nominal value of 5, 10, 20, 25 and 50 paise and also 1, 2, 5 and 10 rupees. The banknotes are available with a nominal value of 5, 10, 20, 50, 100, 500 and 1000 rupees. Certificates with a nominal value of 1 and 2 rupees are also emitted, but in small numbers and are very rarely available.
History of the Indian rupee
The geographical area of India today some of the first cultures that adopted a monetary system emerged. There is no history of scientific consensus as to the exact date of introduction. Widespread is the period between the 4th and 6 th century. BC Discussed rationale of the creation of order and control, and facilitation of the administration. In particular, the monitoring of trade probably played an important role.
Since the introduction of the first coins there were many changes both in the name and value as well as in the appearance of widespread on the Indian subcontinent coins. The appearance was dependent on the ruling of the dynasty, the socio-political events or the nature of India. For example, it was during the Indo - Greek period coins, which were influenced by images of Greek deities, or because of the large trade between the Roman Empire and India, coins contained the same time the Roman and Indian symbols.
Each and every dynasty ruler who conquered India or one of its provinces, took effect on the appearance of the coins. So there was the Arabic influence in the 8th century. AD was conquered than the Sindh province of Arabs. This influence was superseded by the Sultan of Delhi, which in the 12th century. Islamic calligraphy on the Indian coins introduced. So newly created coins had oriental symbols and bore the name Tanka. Tanka was the currency until the 15th century. until it was replaced by the Indian rupee.
Indian rupee from the introduction to the present day
The introduction of the rupee goes to the Afghan ruler Sher Shah Suri (1540 - 1545), back. He aspired to a centralized administrative structure, trying, as it previously in many provinces own coins with different values and different materials was to unify the monetary system. The introduction of the silver coin " Rupiya ", probably in 1526, that 11.5 grams ( = 178 grains) weighed and the predecessor of the modern Indian rupee was served that purpose. The name " rupee " was the first coin in 1612.
First there was the rupee made of silver, only in the form of coins. The first Papierrupien were only in the 18th century. introduced, among others, by the Bank of Hindustan and Bengal Bank. The languages of banknotes, printed depending on which bank, were Urdu, Bengali or Nagri. The rupee was not the only currency of India. So there was at the same time under the British rule until 1815, another currency which Fanam. This had an exchange rate of 12 Fanams = 1 Rupee.
In 1825 the British Crown ordered the introduction of the British pound in all its colonies. Although India has been largely controlled at that time by the British East India Company, the rupee remained during the entire colonization of the currency of India.
Several times tried the British colonial power to replace the rupee. So should displace the starting rupee 1864 Gold Sovereign of Bombay and Calcutta. The plan failed, as well as similar projects in the colonial territories Canada and Hong Kong. Ultimately, the objective of the British East India Company goal was abandoned and the rupee was the currency of India. To halt the stronger since 1875 depreciation of rupee against the pound, as this led to an imbalance in public finances, you guaranteed 1898 the value of the rupee on a gold basis. A rupee is now equivalent to 1/15 pounds.
The exchange rates against the major trading coins in colonial times were (before 2% inches)
The fall of the rupee
In contrast to the economically strongest currencies in the rupee was a silver coin. Therefore, it came in 1873 to a drastic devaluation of the rupee, as a large silver deposits were discovered in the U.S. and the price of the precious metal and its ratio was significantly decreased for gold on the markets. The rupee lost to foreign trade buying power and there was an economic crisis in India. Due to this development, and under the influence of the British government - they had not expected by the markets, set on June 26, 1893 British India the free coinage of silver coins - joined India in 1898 to the gold standard. At the same time the rupee was tied to the British pound sterling, with a fixed value of 15 rupees = 1 British pound. This exchange rate changed over the years:
1920: 10 rupees = 1 £ 1927: 13 ⅓ rupees = 1 £ 1966: £ 1 = 8.7 rupees, or 7.5 rupees = 1 U.S. Dollar
2013 reached the declining rupee a historic low: On August 21, 2013 will cost 1 USD 64.46 rupees.
India gained its independence in 1947; exactly three years later, the Indian rupee was first issued as currency of the new Republic. It now consisted of 16 Annas, which corresponded to 64 Paise ( 1 Anna = 4 paise ). The appearance has been changed back to the traditional icons, and the production material was replaced by bronze, nickel or copper.
In 1957, the first time the decimal system was introduced in the Indian currency embossing. The rupee now consisted of 100 Naye Paise (Hindi: New paise ). The new coins had different shapes, while the coins were uniform, the lion emblem on the front and the denomination of the coin on the back. In 1964 the word Naye was rejected, there remained only the name Paise exist. The new series of coins was introduced in 1965 and consisted of previously unused materials; so the newly issued paise aluminum was manufactured.
The Indian rupee circulated until 1959 also in the under British protection Emirates on the Persian Gulf (Bahrain, Qatar, Kuwait, Oman and Trucial States). The Reserve Bank of India announced 1959 to 1970 a separate series of notes for these states out, which is called the Gulf Rupee and was linked 1:1 to the Indian rupee.
In 1966, the Indian rupee was pegged to the U.S. dollar. This binding remained until 1971 consist.
Coinage of the princely states
At the time of the East India Company a number of princely states proposed rupees after the Mughal model. After the Sepoy Mutiny, the Persian inscriptions were replaced by Queen Victoria or the local ruler, an operation was completed about 1872. The colonialists examined the claims of individual states to the old law to mint and confessed holds the coin only 34 of which own coins. To achieve a certain level of standardization, offered the Government of India in 1876 the States, free of charge to their coins minted in central mints for it. After the cost of freedom was revoked in 1893, renounced most states on its own coins.
Hyderabad, which is the only its own currency in the form of the Hyderabad rupee ( ratio of about 6 to 7 rupees British HR. ) Was allowed to keep, and Mewar ( Udaipur ), Jaipur, Travancore, Kutch, Gwalior, Jodhpur, Indore and Baroda expended to 1947 regularly silver and copper coins, some states dominated occasionally change from copper. Jodhpur and Kutch expended annually coins with the bust of the British sovereign, so also in 1936, in addition to coins of the East African Shillings, the only coins of the Empire by the name of Edward VIII who were actually in circulation.
In some princely states, the rupee was different pieced, such as in:
- Bamra (CP ), Punch ( Kashmir ): 1 Anna = 4 paisa = 12 Pies
- Bastar, about 1862 240 Kauri = 1 Dogani; 10 Dogani = 1 rupee
- Cochin: 12 pies = 6 Puttans = 1 Anna
- Faridkot ( Punjab ): 1 Anna = 4 paisa = 8 Fulus
- Nawanagar: 1 Anna = 6 Dokra
- Soruth until 1913: 16 Kori Anna Anna = 1, 4 Kori = 1 rupee
- Travancore: 1 rupee = 28 Chukram, 1 Chukram = 16 cash
The Indian number system
The Indian number system which is still used today in India, Pakistan, Myanmar and Bangladesh, has some special features. In this system, two decimal places are in larger numbers for better navigation grouped together, rather than three digits, as is common in Europe. In addition, some numbers are assigned their own names.
This numbering system is also used in dealing with the currency. So you could write the number 400,000 rupees than Rs 4 lakh or Rs 4,00,000 and the number of 40 million rupees than Rs 4 crore (abbreviated cr 4) write.
Security features of modern Indian rupee
Watermark - the white margin of the notes is determined by the portrait of Mahatma Gandhi.
Security patrols - the notes have a silver ribbon on which is an inscription in Hindi and English is what will appear when the banknote is held up to light.
Latent image - Banknotes from 20 rupees to show its value, if the notes are held horizontally at eye level.
Microscripts - between the latent image and the security thread is a font that can be seen with a magnifying glass.
Fluorescence - the denomination of the bill glows under UV light.
Optically variable ink - the number on the 500 - and 1,000 -rupee notes to change their color depending on the viewing angle.
Gravure font - some icons and images, such as the seal of the Reserve Bank of India are created with low pressure - so they can be easily palpated. This safety feature is found only on notes than 20 rupees.
The Reserve Bank of India is planning a replacement of the traditional 10 -rupee certificate with one that is made from polymer. Characterized it is hoped that the life of bills by four times to extend to an average life span of five years. The advantage of the new notes is in addition the fact that less dirt sticking to the notes and they remain thus cleaner. The Supervisory Board of the Central Bank has decided to issue 10 million banknotes with face value 10 rupees. The introduction of plastic banknotes have been already carried out in other countries, such as in neighboring Nepal, in Australia or New Zealand.
In addition to the Japanese yen, the British pound, the euro, the U.S. dollar and other currencies also has the Indian rupee since 2010 an own currency symbol. The icon looks like the Latin capital letter R, which lacks the vertical bar and it carries two horizontal lines in the upper third of the symbol over its entire width. It is a combination of the R and the letter र ( Ra) of the Devanagari script. This was preceded by a tendered by the Indian Ministry of Finance public competition. The aim of the competition was to create an identification symbol for the Indian rupee with a high recognition value. The new icon should include traditional, historical and cultural values of India among others. Only Indian citizens were allowed to participate for a fee of 500 rupees in the competition. The selected end of 3000 designs submitted symbol was selected by a seven- member jury, consisting of employees of the Government of India and the Central Bank. The winner of the competition received a cash prize of 250,000 rupees (about 3,000 euros ).
Unicode contains the new Rupienzeichen at code point U 20 B9 (the old at code point U 20 A8). First, the new symbol was only available as part of special computer fonts, now also via system update in more common systems.