ભારતીય રૂપિયો

ભારતીય રૂપિયોએ ભારતનું રાષ્ટ્રીય ચલણ છે. જેનું નિયમન ભારતીય રિઝર્વ બેંક કરે છે. આધુનીક રૂપીયાને ૧૦૦ પૈસામાં વિભાજીત કરવામાં આવ્યો છે. ચલણની દૃષ્ટીએ જોઇએ તો ૧, ૨, ૫, ૧૦ રૂપિયાનાં સિક્કાઓ છે. અને ૫, ૧૦, ૨૦, ૫૦, ૧૦૦, ૨૦૦ ,૫૦૦ અને ૨૦૦૦ રૂપિયાની નોટો ચલણમાં છે. રૂપિયાનું નવું ચિહ્ન દેવનાગરી લિપીના र અને લેટીન Rનું સંયોજન કરીને બનાવવામાં આવ્યું છે. જે હવે આંતર્રાષ્ટ્રીય બજારોમાં ભારતીય ચલણનું પ્રતિનીધીત્વ કરે છે.

વ્યુત્પત્તિ
આમતો ભારતનાં મોટા ભાગમાં રૂપિયાને રૂપિયાના નામ થીજ ઓળખવામાં આવે છે છતાં પણ તેનાં કેટલાક પ્રાદેશીક નામો પણ છે, જેવાકે: રૂબૈઇ (તમિલ) (ரூபாய்); રૂપિયા (હિન્દી) (रुपया); રૂપિયો ગુજરાતી; રૂપૈય તેલુગુ (రూపాయి); કન્નડ (ರೂಪಾಯಿ) અને તુલુ (ರೂಪಾಯಿ), રુપા મલયાલમ (രൂപ); રૂપયે મરાઠી (रुपये). આ ઉપરાંત બીજી ભાષામાં જોઈએ તો  તેને સંસ્કુતમાં रूप्यकम् - રૂપ્યકમ્ કહેવામાં અવે છે. A dictionary of Urdu, classical Hindi, and English સંસ્કૃતમાં રૌપ્યનો અર્થ થાય છે, ચાંદી અને રુપ્યકમ્ એટલે ચાંદીની મુદ્રા (સિક્કો). જો કે, પશ્ચિમ બંગાળ, ત્રિપુરા, મિઝોરમ, ઓરિસ્સા અને આસામમાં ભારતીય રુપિયાનું અધિકૃત નામ સંસ્કૃત શબ્દ टङ्क ટંકમાંથી ઉદ્ભવતા વિવિધ શબ્દોનું બનેલું છે. આમ, બંગાળીમાં રુપિયાને ટાકા  (টাকা), આસામીઝમાં ટોકા (টকা) અને ઉડિયામાં ટંકા (ଟଙ୍କା) કહેવામાં આવે છે અને એ પ્રમાણે જ ચલણી નોટો પર તેમને લખવામાં આવે છે.

ચિહ્ન
૫ માર્ચ ૨૦૦૯ના રોજ ભારત સરકારે રૂપિયા માટે એક વૈશ્વિક પ્રતીકચિહ્ન બનાવવા માટે સ્પર્ધાની જાહેરાત કરી હતીhttp://finmin.nic.in/the_ministry/dept_eco_affairs/currency_coinage/Comp_Design.pdf COMPETITION FOR DESIGN. ૨૦૧૦નાં કેન્દ્રીય અંદાજપત્ર દરમિયાન તત્કાલિન નાણા પ્રધાન પ્રણવ મુખર્જીએ સૂચવ્યું હતું કે પ્રસ્તાવિત ચિહ્ન ભારતીય મૂલ્યો અને સંસ્કૃતિની ઝલક સમું હશે અને તેને પ્રતિબિંબિત કરતું હશે. પાંચ પ્રતીકોની તારવણી કરવામાં આવી હતી અને તેમાંથી કેબિનેટે ૧૫ જુલાઇ ૨૦૧૦ના રોજ ડી. ઉદય કુમારે બનાવેલાં આ ચિહ્ન પર પસંદગી ઢોળી હતી.

આ ચિન્હ દેવનાગરી લિપીના ‘र’ અક્ષરમાંથી લેવામાં આવ્યુ છે. ઊપરની સમાન્તર રેખાઓ (અને તે ની વચ્ચે ની જગ્યા) ત્રિરંગાની આભા આપે છે અને દેશની આર્થીક અસમાનતાદૂર કરવાની ઇચ્છા દર્શાવે છે. The Indian government will try to adopt the symbol within six months in the country and globally within 18 to 24 months. Prior to this, the most commonly used symbols for the rupee have been ₨., Re. or रू.

આંકડાકીય વિભાજન
મોટી સંખ્યામાં રૂપિયાની ગણતરી હજાર, લાખ (આંકડામાં ૧,૦૦,૦૦૦), કરોડ (આંકડામાં ૧,૦૦,૦૦,૦૦૦) અને અબજ (આંકડામાં ૧,૦૦,૦૦,૦૦,૦૦૦)માં કરવામાં આવે છે. અંગ્રેજી ચલણમાં વપરાતા મિલિયન (૧૦ લાખ) અને બિલિયન (અબજ) એવા એકમોનો ઉપયોગ ભારતીય પ્રણાલિમાં ખૂબ જ ઓછો છે.

દાખલા તરીખે, સંખ્યા રૂ. ૩,૨૫,૫૪,૭૨૯.૨૫ સામાન્ય રીતે ત્રણ કરોડ પચ્ચીસ લાખ ચોપ્પન હજાર સાતસો ઓગણત્રીસ અને પચ્ચીસ પૈસા એમ બોલવામાં આવે છે.

ઇતીહાસ
 ભારતમાં ઉપયોગ 
પ્રાચિન સમયમાં સિક્કાનો ઉપયોગ કરનારા દેશોમાં એક દેશ ભારત પણ હતો . ભારતમાં ઇ.સ્.પુર્વે ૬ સદીથી સિક્કાનું ચલણ છે. પુરાતત્વ સંશોધનમાં મળેલા સિક્કા પરથી જાણી શકાય છેકે હડપ્પીય સંસ્કૃતિમાં પણ સિક્કાનું ચલણ હતું ,જે ઇ.સ્.પુર્વે ૨૫૦૦ થી ૧૭૫૦ દરમ્યાનં પાંગરી હતી પહેલો રૂપિયો બનાવનાર શેર શાહ સુરીરાજા (૧૪૮૬–૧૫૪૫)હતો, જેનું મુલ્ય ૪૦ તાંબાની પાઇ જેટલું હતું. ૧ રૂપિયાનીં પ્રથમ ચલણીનોટ "બેંક ઓફ હિંદુસ્તાન"(૧૭૭૦-૧૮૩૨) દ્વાર બહાર પડાઇ, ત્યાર બાદ જનરલ બેંક ઓફ બંગાળ અને બિહાર (૧૭૭૩-૭૫,નિર્માતા,વોરન હેસ્ટીંગ)બંગાળ બેંક (૧૭૮૪-૯૧),તથા મદ્રાસ નીં બેંકે પણ રૂપિયાનું ચલણ રાખ્યું જેનું મુલ્ય ૧૨ ફેનમ = ૧ રૂપિયો હતું.

Historically, the rupee, derived from the Sanskrit word raupya, which means silver, was a silver coin. This had severe consequences in the nineteenth century, when the strongest economies in the world were on the gold standard. The discovery of vast quantities of silver in the U.S. and various European colonies resulted in a decline in the relative value of silver to gold. Suddenly the standard currency of India could not buy as much from the outside world. This event was known as "the fall of the rupee".

India was not affected by the imperial order-in-council of 1825 that attempted to introduce the British sterling coinage to the British colonies. British India at that time was controlled by the British East India Company. The silver rupee continued as the currency of India throughout the entire period of the British Raj and beyond. In 1835, British India set itself firmly upon a mono-metallic silver standard based on the rupee. His decision was influenced by a letter, written in the year 1805, by Lord Liverpool that extolled the virtues of mono-metallism.

Following the Indian Mutiny in 1857, the British government took direct control of British India. Since 1851, gold sovereigns were being produced in large numbers at the Royal Mint branch in Sydney, New South Wales. In the year 1864 in an attempt to make the British gold sovereign become the 'imperial coin', the treasuries in Bombay and Calcutta were instructed to receive gold sovereigns. These gold sovereigns however never left the vaults. As was realized in the previous decade in Canada and the next year in Hong Kong, existing habits are not easy to replace. And just as the British government had finally given up any hopes of replacing the rupee in India with the pound sterling, they simultaneously realized, and for the same reasons, that they couldn't easily replace the silver dollar in the Straits Settlements with the Indian rupee, as had been the desire of the British East India Company.

Since the great silver crisis of 1873, a growing number of nations had been adopting the gold standard. In 1898, following the recommendations of the Indian Currency Committee, British India officially adopted the gold exchange standard by pegging the rupee to the British pound sterling at a fixed value of 1 shilling 4 pence (i.e., 15 rupees = 1 pound). In 1920, the actual silver value of the rupee was increased in value to 2 shillings (10 rupees = 1 pound).  In British East Africa at this time, the decision was made to replace the rupee with a florin. No such opportunity was, however, taken in British India.

In 1927, the peg was once more reduced, this time to 18 pence (13⅓ rupees = 1 pound). This peg was maintained until 1966, when the rupee was devalued and pegged to the U.S. dollar at a rate of 7.5 rupees = 1 dollar (at the time, the rupee became equal to 11.4 British pence). This peg lasted until the U.S. dollar devalued in 1971.

The Indian rupee replaced the Danish Indian rupee in 1845, the French Indian rupee in 1954 and the Portuguese Indian escudo in 1961. Following independence in 1947, the Indian rupee replaced all the currencies of the previously autonomous states. Some of these states had issued rupees equal to those issued by the British (such as the Travancore rupee). Other currencies included the Hyderabad rupee and the Kutch kori. Nominal value during British rule, and the first decade of independence:

 1 દમડી(પૈ)     = 0.520833 પૈસા
 1 ખાની(pice)  = 1.5625 પૈસા
 1 paraka      = 3.125 પૈસા 
 1 આના        = 6.25 પૈસા
 1 beda        = 12.5 પૈસા
 1 પાવલી       = 25 પૈસા
 1 અડધો રૂપિયો   = 50 પૈસા
 1 રૂપિયો        = 100 પૈસા 

In 1957, decimalisation occurred and the rupee was divided into 100 naye paise (Hindi for "new paise"). In 1964, the initial "naye" was dropped. Many still refer to 25, 50 and 75 paise as 4, 8 and 12 annas respectively, not unlike the usage of "bit" in American English for ⅛ dollar.
rupee bill historical.jpg |link=Special:FilePath/Rupee_bill_historical.jpg
Image:in2av.jpg | The two-rupee banknote

Image:French1rupee.jpg | French Indian 1 rupee (1938)
Image:Rupee_One_-_Obverse.jpg | One rupee — Obverse

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 The rupee on the East African coast and South Arabia 
In East Africa, Arabia, and Mesopotamia the Rupee and its subsidiary coinage was current at various times. The usage of the Rupee in East Africa extended from Somalia in the north, to as far south as Natal. In Mozambique the British India rupees were overstamped, and in Kenya the British East Africa Company minted the rupee and its fractions as well as pice. The rise in the price of silver immediately after the First World War caused the rupee to rise in value to two shillings sterling. In 1920 in British East Africa, the opportunity was then taken to introduce a new florin coin, hence bringing the currency into line with sterling. Shortly after that, the Florin was split into two East African shillings. This assimilation to sterling did not however happen in British India itself. In Somalia the Italian colonial authority minted 'rupia' to the exact same standard, and called the pice 'besa'.

 The rupee in the Straits Settlements 
The Straits Settlements were originally an outlier of the British East India Company. The Spanish dollar had already taken hold in the Straits Settlements by the time the British arrived in the nineteenth century, however, the East India Company tried to introduce the rupee in its place. These attempts were resisted by the locals, and by 1867 when the British government took over direct control of the Straits Settlements from the East India Company, attempts to introduce the rupee were finally abandoned.

 આંતરરાષ્ટ્રીય ઉપયોગ 
ભારત નાં ભાગલાનીં સાથે પાકિસ્તાની રૂપિયો અસ્તિત્વમાં આવ્યો,પહેલાનાં સમયમાં ભારતીય રૂપિયો દુનિયાનાં ઘણા દેશોનું માન્ય ચલણ હતું જેવાકે એડન, ઓમાન, કુવૈત, બેહરીન, કતાર, the Trucial States, કેન્યા, Tanganyika, યુગાન્ડા, the Seychelles, and Mauritius વગેરે.

The Indian government introduced the Gulf rupee, also known as the Persian Gulf rupee (XPGR), as a replacement for the Indian rupee for circulation exclusively outside the country with the Reserve Bank of India [Amendment] Act, 1 May 1959. This creation of a separate currency was an attempt to reduce the strain put on India's foreign reserves by gold smuggling. After India devalued the rupee on 6 June 1966, those countries still using it – Oman, Qatar, and the Trucial States (which became the United Arab Emirates in 1971) – replaced the Gulf rupee with their own currencies. Kuwait and Bahrain had already done so in 1961 and 1965 respectively.

The Bhutanese ngultrum is pegged at par with the Indian rupee, and both currencies are accepted in Bhutan. The Indian rupee is also accepted in towns in Nepal which lie near the border with India.

 વિમુદ્રીકરણ - ૨૦૧૬ 
કાળા નાણા અને નકલી નોટો પ્રભાવ વધવાને લીધે ૮ નવેમ્બર, ૨૦૧૬ ના રોજ રાત્રે ૮ વાગ્યે વડાપ્રધાન શ્રી નરેન્દ્ર મોદી એ રૂપિયા ૫૦૦ અને ૧૦૦૦ની નોટોનું વિમુદ્રીકરણ કરેલું. ત્યારબાદ રૂપિયા ૨૦૦૦ની નવી નોટો અને ૨૦૧૬ના અંત સુધીમાં રૂપિયા ૫૦૦ની નવી નોટો જાહેર થઈ.

સિક્કા
 ઇસ્ટ ઇન્ડિયા કંપની,૧૮૬૨ 
ઇસ્ટ ઇન્ડિયા કંપનીએ ભારતમાં ૩ રાજ્યો સ્થાપ્યા હતાં જેમાં(બંગાળ,બૃહદ મુંબઇ તથા મદ્રાસ)હતાં. ૧૮૩૫ સુધીમાં દરેક રાજ્યએ પોતાનાં સિક્કા બાહર પાડ્યા હતા.જેમાં ત્રણેય રાજ્યોએ ચાંદીનોં રૂપિયાનો સિક્કો બહાર પાડ્યો હતો જેનું મુલ્ય ⅛ ફ્રાંક હતું, મદ્રાસ રાજ્યે તો  બે રૂપિયાનો સિક્કો પણ બહાર પાડ્યો હતો.ત્યાર બાદ તાંબાના સિક્કાનું ચલણ વધ્યું.બંગાળે ૧ પાઇ, ½, ૧ અને ૨ પૈસા બહાર પાડ્યા તો મુંબઇએ ૧ પાઇ, ¼, ½, ૧, 1½, ૨ અને ૪ પૈસા. તથા મદ્રાસે ૨, ૪ પાઇ, ૧, ૨ અને ૪ પૈસા, with the first two denominated as ½ and 1 dub or  and  rupee. Note that Madras also issued the Madras fanam until 1815.

All three Presidencies issued gold mohurs and fractions of mohurs, including , ⅛, ¼ and ½ in Bengal,  (a gold rupee) and ⅓ (pancia) in Bombay and ¼, ⅓ and ½ in Madras.

In 1835, a single coinage for the EIC was introduced. It consisted of copper , ¼ and ½ anna, silver ¼, ½ and 1 rupee and gold 1 and 2 mohurs. In 1841, silver 2 annas were added, followed by copper ½ pice in 1853. The coinage of the EIC continued to be issued until 1862, even after the Company had been taken over by the Crown.

Regal issues, 1862–1947
In 1862, coins were introduced which are referred to as Regal issues. They bore the portrait of Queen Victoria and the designation "India". Denominations were  anna, ½ pice, ¼ and ½ anna (all in copper), 2 annas, ¼, ½ and 1 rupee (silver) and 5 and 10 rupees and 1 mohur (gold). The gold denominations ceased production in 1891 while no ½ anna coins were issued dated later than 1877.

In 1906, bronze replaced copper for the lowest three denominations and in 1907, a cupro-nickel 1 anna was introduced. In 1918 and 1919, cupro-nickel 2, 4 and 8 annas were introduced, although the 4 and 8 annas coins were only issued until 1921 and did not replace their silver equivalents. Also in 1918, the Bombay mint struck gold sovereigns and 15 rupee coins identical in size to the sovereigns as an emergency measure due to the First World War.

In the early 1940s, several changes were implemented. The  anna and ½ pice ceased production, the ¼ anna was changed to a bronze, holed coin, cupro-nickel and nickel-brass ½ anna coins were introduced, nickel-brass was used to produce some 1 and 2 annas coins, and the composition of the silver coins was reduced from 91.7% to 80%. The last of the regal issues were cupro-nickel ¼, ½ and 1 rupee pieces minted in 1946 and 1947.

Independent issues, predecimal, 1950–1957
India's first coins after independence were issued in 1950. They were 1 pice, ½, 1 and 2 annas, ¼, ½ and 1 rupee denominations. The sizes and compositions were the same as the final Regal issues, except for the 1 pice, which was bronze but not holed.

Independent issues, decimal, 1957-
The first decimal issues of India consisted of 1, 2, 5, 10, 25 & 50 naye paise, as well as 1 rupee. The 1 naya paisa was bronze, the 2, 5 & 10 naye paise were cupro-nickel & the 25 & 50 naye paise & 1 rupee were nickel. In 1964, the word naya(e) was removed from all the coins. Between 1964 & 1967, aluminum 1, 2, 3, 5 & 10 paise were introduced. In 1968, nickel-brass 20 paise were introduced, replaced by aluminum coins in 1982. Between 1972 & 1975, cupro-nickel replaced nickel in the 25 & 50 paise as well as the 1 rupee. In 1982, cupro-nickel 2 rupees coins were introduced. In 1988, stainless steel 10, 25 & 50 paise were introduced, followed by 1 & 5 rupee coins in 1992.
Recently 5 Rupee coins made from Brass are being minted by RBI

Between 2005 & 2008, new, lighter 50 paise, 1, 2 & 5 rupee coins were introduced, all struck in ferritic stainless steel. The move was prompted by the melting down of older coins whose face value was less than their scrap value.

The coins commonly in circulation are 1, 2, 5 & 10 rupees.  Although they remain valid, paise coins have become increasingly rare in regular usage.
Circulating Coins   Value  Technical parameters  Description  Date of Diameter  Mass  Composition  Shape  Obverse  Reverse  first minting  last minting 5 paise  22 mm (diagonal)  1.5 g  Aluminium  Diamond  Emblem of India  Value  1957  1994  10 paise  16 mm  2 g  Ferritic stainless steel  Circular  Emblem of India  Value  1961  1998  20 paise  26 mm  2 g  Aluminium  Hexagon  Emblem of India  Value  1982  1997  25 paise  19 mm  2.83 g  Ferritic stainless steel  Circular  Emblem of India, value  Rhinoceros  1988  2002  50 paise  22 mm  3.79 g  Ferritic stainless steel  Circular  Emblem of India, value  Value, Hand showing clenched fist  2008  -  1 rupee  25 mm  4.85 g  Ferritic stainless steel  Circular  Emblem of India, value  Value, Hand showing thumb  2007  -    2 rupees  27 mm  5.62 g  Ferritic stainless steel  Circular Emblem of India  Value, Hand showing 2 fingers  2007  -  5 rupees  23 mm  6 g  Ferritic stainless steel  Circular  Emblem of India  Value, wavy lines  2007  -  10 rupees  28 mm  8 g  Bimetallic  Circular  Emblem of India with value  Value, wavy lines  2009  - 

The coins are minted at the four locations of the India Government Mint. Note the 1, 2 & 5 rupee coins have been minted since independence. Coins minted with the "Hand Picture" are 2005 onwards.

Banknotes
બ્રિટિશ ભારત ૧૮૬૧-૧૯૪૭
૧૮૬૧માં તે વખતની સરકારે કાગળી ચલણ અમલમાં મુક્યું, ૧૮૮૪માં ૧૦ રૂપિયા, ૧૮૯૨માં ૫ રૂપિયા, ૧૮૯૯માં ૧૦,૦૦૦ રૂપિયા, ૧૯૦૦માં ૧૦૦ રૂપિયા, ૧૯૦૫માં ૧૦૦ રૂપિયા, ૧૯૦૭માં ૫૦૦ રૂપિયા અને ૧૯૦૯માં ૧૦૦૦ રૂપિયા. ૧૯૧૭માં, ૧ અને ૨'૧/૨ રૂપિયાની ચલણ નોટોનું લોકાર્પણ કરવામાં આવ્યું.

ભારતીય રિઝર્વ બેંકે ૧૯૩૮માં ૨, ૫, ૧૦, ૫૦, ૧૦૦, ૧૦૦૦ અને ૧૦,૦૦૦ રૂપિયાની નોટો છાપીને નાણું છાપવાની શરૂઆત કરી, જ્યારે સરકારે ૧ રૂપિયાની નોટો છાપવાની સત્તા પોતાની પાસે રાખી.

Independent issues since 1949
After independence, new designs were introduced to remove the portrait of the King. The government continued to issue the 1 rupee note, while the Reserve Bank issued other denominations, including the 5000 and 10,000 rupee notes introduced in 1949. In the 1970s, 20 and 50 rupee notes were introduced but denominations higher than 100 rupees were demonetized in 1978. In 1987, the 500 rupee note was introduced, followed by the 1000 rupees in 2000.

In September 2009, Reserve Bank of India has decided to introduce polymer notes (polymer banknote) on a trial basis. Initially, 100 crore (1 billion) pieces of ₨. 10 denomination notes will be introduced.
According to the Reserve Bank officials, the polymer notes will have an average lifespan of 5 years (4 times the regular Indian bank notes) and be difficult to counterfeit. The polymer notes are cleaner than the regular notes, too.

Currently circulating notes
Mahatma Gandhi Series   Image Obverse  Value  Dimensions  Main Color  Description  Date of issue Obverse  Reverse 82px|link=Special:FilePath/5rupees.png ₨. 5  117 × 63 mm  Green  Mahatma Gandhi  Tractor  2002 / 2009 96px|link=Special:FilePath/10rupees.png ₨. 10 137 × 63 mm  Orange-violet  Rhinoceros, elephant, tiger  1996 / 2006 103px|link=Special:FilePath/20Rupees.png ₨. 20 147 × 63 mm  Red-orange  Palm trees, Kovalam Beachs  2002 / 2006 103px|link=Special:FilePath/50Rupees.png ₨. 50  147 × 73 mm  Violet  Parliament of India  1997 / 2005 110px|link=Special:FilePath/100Rupees.png ₨. 100  157 × 73 mm  Blue-green at centre, brown-purple at 2 sides  Himalaya Mountains  1996 / 2005 117px|link=Special:FilePath/500Rupees.png ₨. 500  167 × 73 mm  Olive and yellow  Dandi March  1997 / 2005 124px|link=Special:FilePath/Rupees1000.jpg ₨. 1000  177 × 73 mm  Amber-Red  Economy of India  2000 / 2005

The current series, which began in 1996, is called the Mahatma Gandhi series. Currency notes are printed at the Currency Note Press, Nashik, Bank Note Press, Dewas, Bharatiya Note Mudra Nigam (P) Limited presses at Salboni and Mysore and at the Watermark Paper Manufacturing Mill, Hoshangabad.

Each banknote has its amount written in 17 languages (English & Hindi on the front, and 15 others on the back) illustrating the diversity of the country. ATMs usually give ₨. 100, ₨. 500, and ₨. 1000 notes. ₨. 1000 notes are analogous to the higher valued notes of the United States dollar and the euro.

In recent years, the banknotes were slightly modified to include see through registration on the left side of obverse. In addition, the year is now printed on the reverse. EURion constellation was added to ₨. 100. The revised ₨. 10, 20 were issued in 2006, and ₨. 50, 100, 1000 in 2005. The RS. 5 notes were stopped from being printed, but have started again since 2009.

The Zero rupee note is not an official government issue.

Language panel

The language panel on Indian rupee banknotes display the denomination of the note in 15 of the 22 official languages of India.

Security features
 Watermark — White side panel of notes has Mahatma Gandhi watermark.
 Security thread — All notes have a silver security band with inscriptions visible when held against light which reads Bharat in Hindi and RBI in English.
 Latent image — Higher denominational notes (Rupees 20 onwards) display the note's denominational value in numerals when held horizontally at eye level.
 Microlettering — Numeral denominational value is visible under magnifying glass between security thread and latent image.
 Fluorescence — Number panels glow under ultra-violet light.
 Optically variable ink — Notes of ₨. 500 and ₨. 1000 have their numerals printed in optically variable ink. Number appears green when note is held flat but changes to blue when viewed at angle.
 Back-to-back registration — Floral design printed on the front and the back of the note coincides and perfectly overlap each other when viewed against light. 
  EURion constellation

Convertibility
Officially, the Indian rupee has a market determined exchange rate. However, the RBI trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate. This is sometimes called a dirty or managed float. Other rates such as the EUR/INR and INR/JPY have volatilities that are typical of floating exchange rates."Convertibility: Patnaik, 2003" (PDF) It should be noted, however, that unlike China, successive administrations (through RBI, the central bank) have not followed a policy of pegging the INR to a specific foreign currency at a particular exchange rate. RBI intervention in currency markets is solely to deliver low volatility in the exchange rates, and not to take a view on the rate or direction of the Indian rupee in relation to other currencies."'Neither the government nor the central bank takes a view on the rupee (exchange rate movements), as long as the movement is orderly', says Indian Minister of Finance"

Also affecting convertibility is a series of customs regulations restricting the import and export of rupees. Legally, foreign nationals are forbidden from importing or exporting rupees, while Indian nationals can import and export only up to 5000 rupees at a time, and the possession of 500 and 1000 rupee notes in Nepal is prohibited.

RBI also exercises a system of capital controls in addition to the intervention (through active trading) in the currency markets. On the current account, there are no currency conversion restrictions hindering buying or selling foreign exchange (though trade barriers do exist). On the capital account, foreign institutional investors have convertibility to bring money in and out of the country and buy securities (subject to certain quantitative restrictions). Local firms are able to take capital out of the country in order to expand globally. But local households are restricted in their ability to do global diversification. However, owing to an enormous expansion of the current account and the capital  account, India is increasingly moving towards de facto full convertibility.

Many economist have a confusion regarding the interchange of the currency with the gold, but the system that India follows is that money cannot be exchanged for gold, in any circumstances or any situation.Money cannot be changed into gold by the RBI. This is because it will becomes difficult to handle it. India follows the same principle of Great Britain and America.

Chronology
 1991 - India began to lift restrictions on its currency. A series of reforms remove restrictions on current account transactions including trade, interest payments & remittances and on some capital assets-based transactions. Liberalized Exchange Rate Management
System (LERMS), a dual exchange rate system, introduced a partial convertibility of the Rupee in March 1992.Rituparna Kar and Nityananda Sarkar: Mean and volatility dynamics of Indian rupee/US dollar exchange rate series: an empirical investigation in Asia-Pacific Finan Markets (2006) 13:41–69, p. 48. DOI 10.1007/s10690-007-9034-0 .
 1997 - A panel set up to explore capital account convertibility recommended India move towards full convertibility by 2000, but timetable abandoned in the wake of the 1997-98 East Asian financial crisis.
 2006 - The Prime Minister, Dr Manmohan Singh, asks the Finance Minister and the Reserve Bank of India to prepare a road map for moving towards capital account convertibility. 

Exchange rates
Historical exchange rates
+ Indian rupees per currency unit, averaged over the year. currency  code  1996  2000  2004  2008  2009 US dollar  USD  35.444  44.952  45.340  43.814  48.84995 Canadian dollar  CAD  26.002  30.283  34.914  41.098  42.92026 Euro*  EUR  44.401  41.525  56.385  64.127  68.03312  Pound sterling  GBP  55.389  68.119  83.084  80.633  76.38023 Swiss franc  CHF  28.714  26.654  36.537  40.451  45.05846 Australian dollar  AUD  27.761  26.157  33.409  36.972  38.58082 Japanese yen  JPY  0.32610  0.41711  0.41945  0.42627  0.52239 Singapore dollar  SGD  25.160  26.079  26.830  30.932  33.60388<sub>*before Jan 1, 1999, European Currency Unit, code XEU

Current exchange rates

References





 Further reading 
 Bhimrao Ramji Ambedkar: The problem of the rupee: Its origin and its solution (history of indian currency & banking), Chapter 2, Rajagraha, Bombay, 7. Mai 1947

External links
 Problem of the Rupee . History of the Rupee till 1923 AD
 Images of historic and modern Indian coins

Category:Coins of India
Category:અર્થશાસ્ત્ર
Category:Currencies of India
Category:International economics
Category:Macroeconomics
Category:Economic history of India