The currency of India is the Indian Rupee (INR). The Indian Rupee is the official currency of India and is issued and regulated by the Reserve Bank of India (RBI), which is the country's central bank.
Key features of the Indian Rupee (INR) include:
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Denominations: The Indian Rupee is available in various denominations, including coins (in denominations of 1, 2, 5, and 10 rupees) and banknotes (in denominations of 10, 20, 50, 100, 200, 500, and 2,000 rupees).
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Symbol: The symbol for the Indian Rupee is ₹. It was adopted in 2010 and represents the Devanagari letter "र" (ra) with a horizontal line added on top.
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Design and Security Features: Indian currency notes feature various designs, including images of national symbols, prominent historical figures, and important landmarks. The notes also incorporate security features like watermarks, security threads, microprinting, and unique identification marks to deter counterfeiting.
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Legal Tender: The Indian Rupee is recognized as the legal tender in India, which means it is the official medium of exchange for transactions within the country. It is accepted for payment of goods, services, and debts.
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Exchange Rate: The value of the Indian Rupee can fluctuate against other currencies due to factors such as supply and demand dynamics, economic conditions, and market forces. The exchange rate of the Indian Rupee is determined in the foreign exchange market.
The Indian Rupee plays a vital role in the Indian economy, facilitating domestic and international trade, as well as serving as a store of value for individuals and businesses.