One Indian Rupee is made up of paise. Paper money comes in allotments of Rs.
Coins come in allotments of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees. The history of the Rupee India was one of the first issuers of coins circa: 6th Century BCand as a result it has seen a wide range of monetary units throughout its history.
There is some historical evidence to show that the first coins may have been introduced somewhere between and BC.
These coins are called 'punch-marked' coins because of their manufacturing technique. Over the next few centuries, as traditions developed and empires rose and fell, the country's coinage designs reflected its progression and often depicted dynasties, socio-political events, deities, and nature.
This included dynastic coins, representing Greek Gods of the Indo-Greek period followed by the Western Kshatrapa copper coins from between the 1st and the 4th Century AD. In AD, the Arabs conquered the Indian province of Sindh and brought their here and coverage with them. By the 12th Century, Turkish Sultans of Delhi replaced the longstanding Arab designs and replaced them with Islamic calligraphy.
This currency was referred to as 'Tanka' and the lower valued coins, 'Jittals'. The Delhi Sultanate attempted to standardise this monetary system and coins were subsequently made in gold, silver and copper.
Fall in Rupee Value – Causes, Impacts and Measures; essay on dollar vs rupee
Inthe Mughal period commenced, bringing forth a unified and consolidated monetary system for the entire Empire. This was heavily influenced by the Afghan Sher Shah Suri to who introduced the silver Rupayya or Rupee coin.
The princely states of pre-colonial India minted their own coins, all which mainly resembled the silver Rupee, but held regional distinctions depending on where they were from. These banks also printed their own paper currency in the Urdu, Bengali and Nagri languages.
It was only in when the British Crown gained control of the one hundred Princely states, and subsequently ended the Mughal Empire, that the coin's native images were replaced by portraits of the Monarch of Great Britain to indicate British Supremacy.
Inwhen the financial establishments collapsed, the control of paper money also shifted to the British Government. Inthe Victoria Portrait series of bank notes was issued in honour of Queen Victoria. After gaining its independence in and becoming a republic inIndia's modern Rupee reverted back to the design of the signature Rupee coin. The symbol chosen for the paper currency was the Lion Capital at Sarnath which replaced the George VI series of bank notes.
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Inthe Mahatma Gandhi Series of Paper notes was introduced.
Dollar vs Rupee (Rupee value in 1947)