LAU YONG KING LIM PUI LING

Article: The Indian Rupee The Indian rupee (sign: ; code: INR) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.[1] The modern rupee is subdivided into 100 paise (singular paisa), though as of 2011 only 50-paise coins are legal tender.[2][3] Banknotes in circulation come in denominations of 5, 10, 20, 50, 100, 500 and 1000. Rupee coins are available in denominations of 1, 2, 5, 10, 100 and 1000; of these, the 100 and 1000 coins are for commemorative purposes only; the only other rupee coin has a nominal value of 50 paise, since lower denominations have been officially withdrawn. The Indian rupee symbol '' (officially adopted in 2010) is derived from the Devanagari consonant "" (Ra) and the Latin letter "R". The first series of coins with the rupee symbol was launched on 8 July 2011. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. Recently RBI launched a website Paisa-Bolta-Hai to raise awareness of counterfeit currency among users of the INR. However, in the Assam, West Bengal, Tripura and Odisha the Indian rupee is officially known by names derived from the word "money".[4] Thus, the rupee is called and (ak), which means (k) in Bengali

(k) in Assamese,

(ak) in Oriya. The amount (and the word "rupee") is, accordingly, written

on the front of Indian banknotes in English and Hindi, whilst on the back the name is listed, in English alphabetical order,[5] in 15 other Indian languages[6]

LAU YONG KING LIM PUI LING

Summary The Indian rupee is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.

The modern rupee is subdivided into 100 paise, although this division is now theoretical, coin denominations of less than 50 paise ceased to be legal tender.

Banknotes are available in nominal values of 5, 10, 20, 50, 100, 500 and 1000 rupees. Rupee coins are available in denominations of 1, 2, 5, 10, 100 and 1000; of these, the 100 and 1000 coins are for commemorative purposes only; the only other rupee coin has a nominal value of 50 paise, since lower denominations have been officially withdrawn. The Indian rupee symbol is derived from the Devanagari consonant (Ra) with an added horizontal bar. The symbol can also be derived from the Latin consonant R by removing the vertical line, and adding two horizontal bars.