Rupee – India’s currency; it’s one among the most important things of every Indian’s life. Perhaps not even a single day passes in an Indian life without a coin or note in his hand! Indian currency is issued by Reserve bank of India in the denominators 5, 10, 20, 50, 100, 500 and 1000 rupee notes and 50paise, 1 rupee, 5 rupee and 10 rupee coins. In my childhood, 5 paise, 10 paise and 25 paise coins and 1 rupee and 2 rupee currency notes were also available. Most recently we have sadly parted from 25 paise coins. Earlier one paise, 2 paise and denominators below 1 paise known as ‘ana’ were also available. They vanished from transactions during late 70’s or so.

Currency notes are printed in Currency Note Press of Nasik, Bank Note Press of Devasi, Bharateey Note Mudra Nigam Press of Balbonia and Mysore and Paper Manufacturing Mill of Hoshangabad watermark. Earlier coins made from gold, silver, bronze and brass were available. The idea of Indian rupee was formulated during the reign of Sher Sha Suri. During that period 40 brass plates were considered equivalent to 1 rupee. The word ‘rupee’ was derived from ‘raupya’ of Sanskrit, meaning ‘silver’. It’s also believed that it is derived from the word ‘roopa’ of Indo-Aryan language.

First currency note was printed by ‘Bank of Bengal and Bihar’, established by Bank of Hindustan and Warren Hasting. British started paper money in the year 1861. Rupee is known in different names in different languages. In Kerala it’s known as ‘roopa’ similar to Indo-Aryan language. Rupee also has strange names Taka and Toka. On each rupee, both coin and currency, its denomination will be printed in both Hindi and English. In addition to it, of the 22 accepted languages of India, translations of 15 langauges will be provided on each and every currency note. It is written in the order of English alphabets.

In addition to India, a few more countries have also accepted ‘Rupee’ as their currency. Mauritius, Nepal, Pakistan, Sri Lanka and Seychelles are those countries; most of them are neighbours of India – a surprising fact. In Indonesia Rupiah is the currency while in Maldives, ‘Rufia’ – a striking similarity in names.

Article Posted By : Sandhya Rani  On March 25, 2013lView All Articles

Lover of old coins

Article Source :

http://www.veethi.com/articles/indian-rupee-article-1845.htm

Keywords :
Indian rupee , how rupee derived , countries with rupee as currency