How Many Lakhs Are Equal to One Million?
Ten lakhs equal 1 million, as one lakh refers to 100,000 of something, usually with regards to sums of rupees in Pakistan and India. When someone says "2 million rupees," it is equivalent to "20 lakh rupees" in India. The word lakh comes from the Sanskrit "lakhsha," meaning "a sign."
The rupee is the currency of India, available in denominations of 5, 10, 20, 50, 100, 500 and 1,000 rupees. One rupee is worth 100 paise, the coinage of India. The Reserve Bank of India is responsible for printing rupees. The exchange rate is approximately 61 rupees for $1, as of September 2014.