INR – Indian Rupee

June 27thJuly 16th

1 minute read

Sign – ₹ / Code – INR

Long before our corporate currency exchange brokers were helping our clients with their Indian Rupee transfers, the Rupee was creating its own rich history.

About the Indian Rupee

The Rupee started off as a silver coin and has lasted through the British Raj regime and beyond.

Following the Indian Mutiny of 1857, the British government took direct control of British India and attempted to enforce the use of the Pound amongst the population, but this failed.

Since the silver crisis of 1873, most nations adopted the gold standard but India continues to use the silver Rupee standard.

Following the independence of British India in 1947, the Indian Rupee replaced all the currencies of the states (bar the Hyderabadi Rupee).

The Indian Rupee symbol ‘₹’ was created in 2010 and is a combination of the Devangarian alphabet’s consonant ‘ra’ (र) and the Latin alphabet’s ‘R’. The first Rupees to bear the new symbol were minted in 2011. Reflecting India’s diversity of language, banknotes display their value in English and Hindi on the front, and list the value in 15 other Indian languages on the back.

The Rupee has also been adopted by Nepal and Bhutan as legal tender.