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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.
The Indian Rupee (symbol: ₹; code: INR) is the official currency of the Republic of India. The rupee is subdivided into 100 paise (Hindi plural; singular: paisa). The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank derives this role from powers vested to it by the Reserve Bank of India Act, 1934.
The key currency generally refers to a world currency, which is widely used for pricing, settlement, reserve currency, freely convertible, and internationally accepted currency. Cross rate: After the basic exchange rate is worked out, the exchange rate of the local currency against other foreign currencies can be calculated through the basic ...
But Treasury Secretary Janet Yellen said no currency currently exists that could displace the greenback. Yellen’s reassurance follows a 8% decline in the dollar’s share of global reserves in 2022.
A currency [a] is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. [1] [2] A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. [3]
The dollar-pound exchange rate then was $4.03 to the pound, which in effect gave a rupee-dollar rate in 1947 of around ₹3.30. [24] [25] The pound was devalued in 1949, changing its parity from 4.03 to 2.80. India was then a part of the sterling area, and the rupee was devalued on the same day by the same percentage so that the new dollar ...
An anna (or ānna) was a currency unit formerly used in British India, equal to 1 ⁄ 16 of a rupee. [1] It was subdivided into four pices or twelve pies (thus there were 192 pies in a rupee). When the rupee was decimalised and subdivided into 100 (new) paise, one anna was therefore equivalent to 6.25 paise.
For example 150,000,000 (one hundred and fifty million) rupees is written as "fifteen crore rupees", "₹ 15 crore". [1] In the abbreviated form, usage such as "₹ 15 cr" is common. [3] Trillions (in the short scale) of money are often written or spoken of in terms of lakh crore. For example, one trillion rupees is equivalent to: ₹ 1 lakh ...