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This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
To avoid the use of the two smallest coins, some cash transactions are rounded to the nearest five cents in the Netherlands and Ireland [38] [39] (by voluntary agreement) and in Finland and Italy (by law). [40] This practice is discouraged by the commission, as is the practice of certain shops of refusing to accept high-value euro notes. [41]
The Digital Rupee (e₹) [39] or eINR or E-Rupee is a tokenised digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). [40] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [ 41 ]
Cent amounts from 1 to 99 can be represented as one or two digits followed by the appropriate abbreviation (2¢, 5c, 75¢, 99c), or as a subdivision of the base unit ($0.75, €0.99). In some countries, longer abbreviations like "ct." are used. Languages that use other alphabets have their own abbreviations and conventions.
[1] [2] In the Indian 2, 2, 3 convention of digit grouping, it is written as 1,00,000. [3] For example, in India, 150,000 rupees becomes 1.5 lakh rupees, written as ₹ 1,50,000 or INR 1,50,000. It is widely used both in official and other contexts in Afghanistan, Bangladesh, Bhutan, India, Myanmar, Nepal, Pakistan, and Sri Lanka.
The five-euro note (€5) is the lowest value euro banknote.It has been used since the introduction of the euro (in its cash form) in 2002. [7] The note is used in the 25 countries (and Kosovo) that have it as their sole currency (with 24 legally adopting it), which countries have a total population of about 350 million currently. [8]
The fifty euro note (€50) is one of the middle value euro banknotes and has been used since the introduction of the euro (in its cash form) in 2002. [6] The note is used in the 25 countries (and Kosovo) that have it as their sole currency (with 24 legally adopting it), which countries have a total population of about 350 million currently. [7]
As a result of the strain on India's foreign reserves, in 1959 the Indian government created the Gulf rupee, initially at par with the Indian rupee. It was introduced as a replacement for the Indian rupee for circulation exclusively outside the country. [2] Effectively, the common currency area now did not include India.