One lakh, equivalent to 100,000 rupees, is equal to $1498.21 U.S. dollars. The lakh is a Hindi term used throughout southern Asia to describe 100,000 of something, but it commonly refers specifically to large sums of rupees, the currency of India.
The lakh is used in official contexts in India, Pakistan, Myanmar, Nepal, Bangladesh and Sri Lanka. The singular and plural of lakh are inconsistent when the word is used in Indian or Pakistani English; the pluralizing "s" can be placed on the word "lakh" or omitted. "Five lakhs of rupees" and "five lakh of rupees" would both be correct.