page_title: Indian rupee
section_title: Pre-independence issues
hierarchical_section_title: Indian rupee / Coins / Pre-independence issues
caption_attribution_description: English: British India, Two mohurs (also Double Mohur) (1835), depicting King William IV.
context_page_description: The Indian rupee is the official currency of India. The rupee is subdivided into 100 paise, though as of 2019, coins of denomination of 1 rupee is the lowest value in use. The issuance of the currency is controlled by the Reserve Bank of India. 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.
  In 2010, a new rupee sign was officially adopted. It was designed by D. Udaya Kumar. It was derived from the combination of the Devanagari consonant "र" and the Latin capital letter "R" without its vertical bar. The parallel lines at the top are said to make an allusion to the tricolour Indian flag, and also depict an equality sign that symbolises the nation's desire to reduce economic disparity. The first series of coins with the new rupee sign started in circulation on 8 July 2011. Before this, India used "₨" and "Re" as the symbols for multiple rupees and one rupee, respectively.
  On 8 November 2016, the Government of India announced the demonetisation of ₹500 and ₹1,000 banknotes with effect from midnight of the same day, making these notes invalid.
caption: 1835 East India Company 2 Mohurs
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