Well, we all use the Indian Rupee on a daily basis for getting our essentials and everything else. However, are you aware of the following ten things regarding the Indian Rupee. So, in this article, I am going to list a few points regarding the Indian Rupee that you may not be aware of. So let's get started.
1. How did the term "Rupee" come from?
The word rupee came from the Sanskrit word raupya, meaning silver coin. It owes its origin to rupiya, issued by Sher Shah Suri in 1540-45. Today, the Reserve Bank of India issues currency under the RBI Act 1934. The most commonly used symbol for the rupee is "Rs"
2. Pakistan once used the Indian Rupee
After the Partition of India in 1947, the Pakistani rupee was not printed. Initially they used Indian coins and Indian currency notes simply over-stamped with “Pakistan”. The RBI acted as the common currency authority of the two countries till June 1948.The currency notes are not made of paper contrary to popular belief, but are made of cotton and cotton rag.
3. Higher denomination notes of Rs 5000 and Rs 10000 were once printed
Did you know that 5,000 and 10,000 rupees notes were in circulation between 1954 and 1978. Rs 1,000 and Rs 10,000 bank notes were in circulation prior to January 1946 and again in 1978. But these notes were demonetised in January 1946 and again in January 1978, according to RBI data.
4. How to type the rupee symbol from your laptop or PC?
In 2010 Indian rupee symbol “” was adopted. D.Udaya Kumar is the creator of the rupee symbol. The symbol was derived from Devanagari letter "र" (ra). The symbol is a combination of the Latin letter “R” and Devanagari letter “र”. The parallel line in the symbol is given to make it look like tricolor of Indian national flag. To type the symbol of the rupee in your laptop or PC, you just need to press 'Ctrl+Shift+$'. Pretty cool, isn't it !!
5. The Indian Rupee was once more valuable than the US Dollar
In 1917, the ₹ was mightier than the $. 1 ₹= 13 USD to be precise.
6. Smaller denomination coins
Denominations of 1 paise, 2 paise, 3 paise, 5 paise, 10 paise, 20 paise and 25 paise were in circulation till June 30, 2011 but were then withdrawn.
7. Changing of a damaged banknote
If you have a torn note, or more than 51% of its torn part, you can exchange it for a new one at a bank.
8. Indian Rupee was once used in several countries
Indian rupee was an official currency of Aden, Oman, Dubai, Kuwait, Bahrain, Qatar, The Trucial States (later UAE), Kenya, Tanganyika, Uganda, The Seychelles, and Mauritius.
9. Only Re. 1 notes and coins in India are signed by the Finance Secretary
Only Re. 1 notes and coins in India are signed by the Finance Secretary as they are printed by the Central Government. All other Indian currency notes in India are printed by RBI.
10. Identification mark for the visually impaired
For the visually impaired people There is an identification mark (different geometrical shapes) on the left hand side of each note in the form of raised print (intaglio) – a diamond for Rs 1000, circle for Rs 500, triangle for Rs 100, square for Rs 50, rectangle for Rs 20 and none for Rs 10 .
So, we just got to know ten lesser known facts of the Indian Rupee. How many facts did you know already from the list? Do comment below in the comment section!
Meanwhile, before leaving, do watch these few videos in YouTube in my channel "CURRENCY UNIVERSE". Please note that the videos are in Hindi.
INDIAN RUPEE BANKNOTES UNDER UV LIGHT
INDIAN RUPEE AND QATARI RIYAL COMPARISON VIDEO
INDIA Rs 500 and PAKISTAN Rs 500 COMPARISON VIDEO
Have any thoughts. Be sure to leave a comment below for any doubts or queries !!
Contact me through Instagram @currencyuniverse (https://www.instagram.com/currencyuniverse)
Last updated on 03/05/2022
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