What Is the Name of the Currency of India?

What Is the Name of the Currency of India?

What Is the Name of the Currency of India?

The currency of India is the rupee, which is divided into 100 paise. Coins and banknotes of up to 1000 rupees exist; however, most of the large denomination coins are commemorative and not intended for circulation. There are also 50 paise coins.

A number of other central Asian countries use rupees as currency. The name comes from the Sanskrit word rupyakam. Typically, the name of the country is appended to the currency in order to reduce confusion, as in "Indian rupee."

As of August 30, 2014, one rupee was worth approximately 1.7 U.S. cents, and 60.5 rupees were equivalent to the U.S. dollar.