Lacs are converted to rupees by multiplying the amount of lacs by 100,000, because one lac is equal to 100,000 rupees. In India, Pakistan, Bangladesh, Nepal, Sri Lanka and other countries that use rupees, lacs are often used to count large amounts of currency.Continue Reading
Besides lacs, other units are used to express large amounts of rupees or other objects. A crore is 100 lacs or 10 million rupees. To designate larger amounts of money, usually only lacs and crores are used as units of measurement. For instance, 1 quadrillion rupees is 1 lac crore of rupees. However, in counting other items, there are more terms for larger amounts. For instance, 1 Arab is 100 crore, or 1 trillion. One kharab is 100 Arab, or 100 trillion.
The modern rupee is made up of 100 paisa. However, when it was first created during the Mughal Dynasty in India in the 16th century, it was divided into 16 annas. Depending on where it was made, the value of the rupee varied from region to region. It was not until 1835 that the rupee received a standardized value by law. When India became independent in 1947, coins of 2 anna, 4 anna and 8 anna continued to be used until the decimal system was adopted in 1961.Learn more about Currency & Conversions
As of November 2015, India issues seven different coins in denominations of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees. These are defined as small coins for denominations of up to 50 paise and rupee coins for those of one rupee and above.Full Answer >
Travelers with an account at Bank of America can exchange Indian rupees for U.S. dollars at any full-service Bank of America location. Individuals who do not have a Bank of America account can exchange Indian rupees for U.S. dollars at Travelex Currency Services locations.Full Answer >
One rupee crore, as of 2014, is approximately equivalent to $163,720, using the exchange rate of 61.07 rupees per U.S. dollar. In the south Asian numbering system, a crore is equivalent to 10 million.Full Answer >
Shellac is made from secretions of the female lac insect called lac resin. The resin is dried into flakes of yellow, orange or red. They can also be bleached white.Full Answer >