|આ લેખનું ભાષાંતર કરવાની જરૂર છે.
મોટા ભાગે કોઇકે આ પાનું બીજી ભાષાના લેખનમાંથી ઉતાર્યું છે અને એનું પૂરી રીતે ભાષાંતર હજુ થયું નથી. મહેરબાની કરી આ પાનાંનો અનુવાદ કરી વિકિપીડિયા ને આગળ વધારવામાં અમારી મદદ કરો અને અનુવાદ પૂર્ણ થયા બાદ આ ઢાંચો કાઢી નાંખો. અનુવાદ કરવા અહિંયા ક્લિક કરો.
ભારતીય રૂપિયોએ ભારત નું રાષ્ટ્રીય ચલણ છે. જેનું નિયમન ભારતીય રિર્ઝવ બેંક કરે છે. આધુનીક રૂપીયાને ૧૦૦ પૈસામાં વિભાજીત કરવામાં આવ્યો છે. ચલણની દ્રષ્ટીએ જોઇએ તો ૧, ૨, ૫, ૧૦ રૂપિયાનાં સિક્કાઓ છે. અને ૫,૧૦,૨૦,૫૦,૧૦૦,૫૦૦ અને ૨૦૦૦ રૂપિયાનીં નોટો ચલણમાં ચાલે છે. રૂપિયાનું નવું ચિહ્ન દેવનાગરી લિપી "र" અને લેટીન "R" નું સંયોજન કરીને બનાવવામાં આવ્યું છે જે હવે આંતર રાષ્ટ્રીય બજારોમાં ભારતીય ચલણનું પ્રતિનીધીત્વ કરે છે.
- ૧ વ્યુત્પત્તિ
- ૨ ચિહ્ન
- ૩ આંકડાકીય વિભાજન
- ૪ ઇતીહાસ
- ૫ સિક્કા
- ૬ Banknotes
- ૭ Convertibility
- ૮ Exchange rates
- ૯ References
- ૧૦ Further reading
- ૧૧ External links
આમતો ભારતનાં મોટા ભાગમાં રૂપિયાને રૂપિયાના નામ થીજ ઓળખવામાં આવે છે છતાં પણ તેનાં કેટલાક પ્રાદેશીક નામો પણ છે, જેવાકે: રૂબૈઇ Tamil (ரூபாய்), રૂપિયા (હિન્દી) (रुपया),રૂપિયો Gujarati (રૂપિયો), રૂપૈયતેલુગુ (రూపాయి), કન્નડ (ರೂಪಾಯಿ) અને ટુલુ (ರೂಪಾಯಿ), રુપા મલયાલમ (രൂപ), રૂપયે મરાઠી (रुपये).આ ઉપરાંત બીજી ભાષામાં જોઇયેતો તેને સંસ્કુતમાં रूप्यकम् રૂપયકમ્કહેવામાં અવે છે.  (Devanagari: रूप्यकं), raupya meaning silver; rupyakam meaning (coin) of silver. However, in West Bengal, Tripura, Mizoram, Orissa, and Assam, the Indian rupee is officially known by names derived from the Sanskrit टङ्क Tanka. Thus, the rupee is called Taka in Bengali (টাকা), tôka in Assamese (টকা), and Tanka in Oriya (ଟଙ୍କା), and is written as such on Indian banknotes.
On March 5, 2009 the Indian government announced a contest to create a symbol for the rupee. During the Union Budget 2010 Finance Minister Pranab Mukherjee mentioned that proposed symbol would reflect and capture the Indian ethos and culture. Five symbols had been short listed, and the Cabinet selected the definitive symbol created by D Udaya Kumar on 15 July 2010.
આ ચિન્હ દેવનાગરી લિપી માથી લેવા મા આવ્યુ છે(‘र’). ઊપર ની સમાન્તર રેખા ઓ (અને તે ની વચ્ચે ની જગ્યા) ત્રિરઙા ની આભા આપે છે.Indian flag અને દેશ ની આર્થીક અસમાનતા ને દૂર કરવા ની ઇચ્છા દર્શાવે છે. The Indian government will try to adopt the symbol within six months in the country and globally within 18 to 24 months. Prior to this, the most commonly used symbols for the rupee have been ₨., Re. or रू.
આંકડાકીય વિભાજન[ફેરફાર કરો]
large values of Indian rupees are counted in terms of thousands, lakh (100 thousand = 105 rupees, in digits 100,000), crore (100 lakhs = 107 rupees, in digits 10,000,000) and arawb (100 crore = 109 rupees, in digits 1,000,000,000). The use of million or billion, as is standard in American or British English, is far less common.
દાખલા તરીખે, સંખ્યા INR ૩,૨૫,૫૪,૭૨૯.૨૫ સામાન્ય રીતે ત્રણ કરોડ પચ્ચીસ લાખ ચોપ્પ્ન હજાર સાતસો ઓગણ ત્રિસ અને પચ્ચીસ પૈસા એમ બોલવા માં આવે છે. (see Indian numbering system).
ભારતમાં ઉપયોગ[ફેરફાર કરો]
પ્રાચિન સમયમાં સિક્કાનો ઉપયોગ કરનારા દેશોમાં એક દેશ ભારત પણ હતો . ભારતમાં ઇ.સ્.પુર્વે ૬ સદીથી સિક્કાનું ચલણ છે. પુરાતત્વ સંશોધનમાં મળેલા સિક્કા પરથી જાણી શકાય છેકે હડપ્પીય સંસ્કૃતિમાં પણ સિક્કાનું ચલણ હતું ,જે ઇ.સ્.પુર્વે ૨૫૦૦ થી ૧૭૫૦ દરમ્યાનં પાંગરી હતી
પહેલો રૂપિયો બનાવનાર શેર શાહ સુરીરાજા (૧૪૮૬–૧૫૪૫)હતો, જેનું મુલ્ય ૪૦ તાંબાની પાઇ જેટલું હતું. ૧ રૂપિયાનીં પ્રથમ ચલણીનોટ "બેંક ઓફ હિંદુસ્તાન"(૧૭૭૦-૧૮૩૨) દ્વાર બહાર પડાઇ, ત્યાર બાદ જનરલ બેંક ઓફ બંગાળ અને બિહાર (૧૭૭૩-૭૫,નિર્માતા,વોરન હેસ્ટીંગ)બંગાળ બેંક (૧૭૮૪-૯૧),તથા મદ્રાસ નીં બેંકે પણ રૂપિયાનું ચલણ રાખ્યું જેનું મુલ્ય ૧૨ ફેનમ = ૧ રૂપિયો હતું.
Historically, the rupee, derived from the Sanskrit word raupya, which means silver, was a silver coin. This had severe consequences in the nineteenth century, when the strongest economies in the world were on the gold standard. The discovery of vast quantities of silver in the U.S. and various European colonies resulted in a decline in the relative value of silver to gold. Suddenly the standard currency of India could not buy as much from the outside world. This event was known as "the fall of the rupee".
India was not affected by the imperial order-in-council of 1825 that attempted to introduce the British sterling coinage to the British colonies. British India at that time was controlled by the British East India Company. The silver rupee continued as the currency of India throughout the entire period of the British Raj and beyond. In 1835, British India set itself firmly upon a mono-metallic silver standard based on the rupee. His decision was influenced by a letter, written in the year 1805, by Lord Liverpool that extolled the virtues of mono-metallism.
Following the Indian Mutiny in 1857, the British government took direct control of British India. Since 1851, gold sovereigns were being produced in large numbers at the Royal Mint branch in Sydney, New South Wales. In the year 1864 in an attempt to make the British gold sovereign become the 'imperial coin', the treasuries in Bombay and Calcutta were instructed to receive gold sovereigns. These gold sovereigns however never left the vaults. As was realized in the previous decade in Canada and the next year in Hong Kong, existing habits are not easy to replace. And just as the British government had finally given up any hopes of replacing the rupee in India with the pound sterling, they simultaneously realized, and for the same reasons, that they couldn't easily replace the silver dollar in the Straits Settlements with the Indian rupee, as had been the desire of the British East India Company.
Since the great silver crisis of 1873, a growing number of nations had been adopting the gold standard. In 1898, following the recommendations of the Indian Currency Committee, British India officially adopted the gold exchange standard by pegging the rupee to the British pound sterling at a fixed value of 1 shilling 4 pence (i.e., 15 rupees = 1 pound). In 1920, the actual silver value of the rupee was increased in value to 2 shillings (10 rupees = 1 pound). In British East Africa at this time, the decision was made to replace the rupee with a florin. No such opportunity was, however, taken in British India.
In 1927, the peg was once more reduced, this time to 18 pence (13⅓ rupees = 1 pound). This peg was maintained until 1966, when the rupee was devalued and pegged to the U.S. dollar at a rate of 7.5 rupees = 1 dollar (at the time, the rupee became equal to 11.4 British pence). This peg lasted until the U.S. dollar devalued in 1971.
The Indian rupee replaced the Danish Indian rupee in 1845, the French Indian rupee in 1954 and the Portuguese Indian escudo in 1961. Following independence in 1947, the Indian rupee replaced all the currencies of the previously autonomous states. Some of these states had issued rupees equal to those issued by the British (such as the Travancore rupee). Other currencies included the Hyderabad rupee and the Kutch kori. Nominal value during British rule, and the first decade of independence:
- 1 દમડી(પૈ) = 0.520833 પૈસા
- 1 ખાની(pice) = 1.5625 પૈસા
- 1 paraka = 3.125 પૈસા
- 1 આના = 6.25 પૈસા
- 1 beda = 12.5 પૈસા
- 1 પાવલી = 25 પૈસા
- 1 અડધો રૂપિયો = 50 પૈસા
- 1 રૂપિયો = 100 પૈસા
In 1957, decimalisation occurred and the rupee was divided into 100 naye paise (Hindi for "new paise"). In 1964, the initial "naye" was dropped. Many still refer to 25, 50 and 75 paise as 4, 8 and 12 annas respectively, not unlike the usage of "bit" in American English for ⅛ dollar. rupee bill historical.jpg Image:in2av.jpg | The two-rupee banknote Image:French1rupee.jpg | French Indian 1 rupee (1938) Image:Rupee_One_-_Obverse.jpg | One rupee — Obverse
The rupee on the East African coast and South Arabia[ફેરફાર કરો]
In East Africa, Arabia, and Mesopotamia the Rupee and its subsidiary coinage was current at various times. The usage of the Rupee in East Africa extended from Somalia in the north, to as far south as Natal. In Mozambique the British India rupees were overstamped, and in Kenya the British East Africa Company minted the rupee and its fractions as well as pice. The rise in the price of silver immediately after the First World War caused the rupee to rise in value to two shillings sterling. In 1920 in British East Africa, the opportunity was then taken to introduce a new florin coin, hence bringing the currency into line with sterling. Shortly after that, the Florin was split into two East African shillings. This assimilation to sterling did not however happen in British India itself. In Somalia the Italian colonial authority minted 'rupia' to the exact same standard, and called the pice 'besa'.
The rupee in the Straits Settlements[ફેરફાર કરો]
The Straits Settlements were originally an outlier of the British East India Company. The Spanish dollar had already taken hold in the Straits Settlements by the time the British arrived in the nineteenth century, however, the East India Company tried to introduce the rupee in its place. These attempts were resisted by the locals, and by 1867 when the British government took over direct control of the Straits Settlements from the East India Company, attempts to introduce the rupee were finally abandoned.
આંતરરાષ્ટ્રીય ઉપયોગ[ફેરફાર કરો]
ભારત નાં ભાગલાનીં સાથે પાકિસ્તાની રૂપિયો અસ્તિત્વમાં આવ્યો,પહેલાનાં સમયમાં ભારતીય રૂપિયો દુનિયાનાં ઘણા દેશોનું માન્ય ચલણ હતું જેવાકે એડન, ઓમાન, કુવૈત, બેહરીન, કતાર, the Trucial States, કેન્યા, Tanganyika, યુગાન્ડા, the Seychelles, and Mauritius વગેરે.
The Indian government introduced the Gulf rupee, also known as the Persian Gulf rupee (XPGR), as a replacement for the Indian rupee for circulation exclusively outside the country with the Reserve Bank of India [Amendment] Act, 1 May 1959. This creation of a separate currency was an attempt to reduce the strain put on India's foreign reserves by gold smuggling. After India devalued the rupee on 6 June 1966, those countries still using it – Oman, Qatar, and the Trucial States (which became the United Arab Emirates in 1971) – replaced the Gulf rupee with their own currencies. Kuwait and Bahrain had already done so in 1961 and 1965 respectively.
વિમુદ્રીકરણ - ૨૦૧૬[ફેરફાર કરો]
કાળા નાણા અને નકલી નોટો પ્રભાવ વધવાને લીધે ૮ નવેમ્બર, ૨૦૧૬ ના રોજ રાત્રે ૮ વાગ્યે વડાપ્રધાન શ્રી નરેન્દ્ર મોદી એ રૂપિયા ૫૦૦ અને ૧૦૦૦ની નોટોનું વિમુદ્રીકરણ કરેલું. ત્યારબાદ રૂપિયા ૨૦૦૦ની નવી નોટો અને ૨૦૧૬ના અંત સુધીમાં રૂપિયા ૫૦૦ની નવી નોટો જાહેર થઈ.
ઇસ્ટ ઇન્ડિયા કંપની,૧૮૬૨[ફેરફાર કરો]
ઇસ્ટ ઇન્ડિયા કંપનીએ ભારતમાં ૩ રાજ્યો સ્થાપ્યા હતાં જેમાં(બંગાળ,બૃહદ મુંબઇ તથા મદ્રાસ)હતાં. ૧૮૩૫ સુધીમાં દરેક રાજ્યએ પોતાનાં સિક્કા બાહર પાડ્યા હતા.જેમાં ત્રણેય રાજ્યોએ ચાંદીનોં રૂપિયાનો સિક્કો બહાર પાડ્યો હતો જેનું મુલ્ય ⅛ ફ્રાંક હતું, મદ્રાસ રાજ્યે તો બે રૂપિયાનો સિક્કો પણ બહાર પાડ્યો હતો.
ત્યાર બાદ તાંબાના સિક્કાનું ચલણ વધ્યું.બંગાળે ૧ પાઇ, ½, ૧ અને ૨ પૈસા બહાર પાડ્યા તો મુંબઇએ ૧ પાઇ, ¼, ½, ૧, 1½, ૨ અને ૪ પૈસા. તથા મદ્રાસે ૨, ૪ પાઇ, ૧, ૨ અને ૪ પૈસા, with the first two denominated as ½ and 1 dub or 1⁄96 and 1⁄48 rupee. Note that Madras also issued the Madras fanam until 1815.
All three Presidencies issued gold mohurs and fractions of mohurs, including 1⁄16, ⅛, ¼ and ½ in Bengal, 1⁄15 (a gold rupee) and ⅓ (pancia) in Bombay and ¼, ⅓ and ½ in Madras.
In 1835, a single coinage for the EIC was introduced. It consisted of copper 1⁄12, ¼ and ½ anna, silver ¼, ½ and 1 rupee and gold 1 and 2 mohurs. In 1841, silver 2 annas were added, followed by copper ½ pice in 1853. The coinage of the EIC continued to be issued until 1862, even after the Company had been taken over by the Crown.
Regal issues, 1862–1947[ફેરફાર કરો]
In 1862, coins were introduced which are referred to as Regal issues. They bore the portrait of Queen Victoria and the designation "India". Denominations were 1⁄12 anna, ½ pice, ¼ and ½ anna (all in copper), 2 annas, ¼, ½ and 1 rupee (silver) and 5 and 10 rupees and 1 mohur (gold). The gold denominations ceased production in 1891 while no ½ anna coins were issued dated later than 1877.
In 1906, bronze replaced copper for the lowest three denominations and in 1907, a cupro-nickel 1 anna was introduced. In 1918 and 1919, cupro-nickel 2, 4 and 8 annas were introduced, although the 4 and 8 annas coins were only issued until 1921 and did not replace their silver equivalents. Also in 1918, the Bombay mint struck gold sovereigns and 15 rupee coins identical in size to the sovereigns as an emergency measure due to the First World War.
In the early 1940s, several changes were implemented. The 1⁄12 anna and ½ pice ceased production, the ¼ anna was changed to a bronze, holed coin, cupro-nickel and nickel-brass ½ anna coins were introduced, nickel-brass was used to produce some 1 and 2 annas coins, and the composition of the silver coins was reduced from 91.7% to 80%. The last of the regal issues were cupro-nickel ¼, ½ and 1 rupee pieces minted in 1946 and 1947.
Independent issues, predecimal, 1950–1957[ફેરફાર કરો]
India's first coins after independence were issued in 1950. They were 1 pice, ½, 1 and 2 annas, ¼, ½ and 1 rupee denominations. The sizes and compositions were the same as the final Regal issues, except for the 1 pice, which was bronze but not holed.
Independent issues, decimal, 1957-[ફેરફાર કરો]
The first decimal issues of India consisted of 1, 2, 5, 10, 25 & 50 naye paise, as well as 1 rupee. The 1 naya paisa was bronze, the 2, 5 & 10 naye paise were cupro-nickel & the 25 & 50 naye paise & 1 rupee were nickel. In 1964, the word naya(e) was removed from all the coins. Between 1964 & 1967, aluminum 1, 2, 3, 5 & 10 paise were introduced. In 1968, nickel-brass 20 paise were introduced, replaced by aluminum coins in 1982. Between 1972 & 1975, cupro-nickel replaced nickel in the 25 & 50 paise as well as the 1 rupee. In 1982, cupro-nickel 2 rupees coins were introduced. In 1988, stainless steel 10, 25 & 50 paise were introduced, followed by 1 & 5 rupee coins in 1992. Recently 5 Rupee coins made from Brass are being minted by RBI
Between 2005 & 2008, new, lighter 50 paise, 1, 2 & 5 rupee coins were introduced, all struck in ferritic stainless steel. The move was prompted by the melting down of older coins whose face value was less than their scrap value.
The coins commonly in circulation are 1, 2, 5 & 10 rupees. Although they remain valid, paise coins have become increasingly rare in regular usage.
|Circulating Coins |
|Value||Technical parameters||Description||Date of|
|Diameter||Mass||Composition||Shape||Obverse||Reverse||first minting||last minting|
|5 paise||22 mm (diagonal)||1.5 g||Aluminium||Diamond||Emblem of India||Value||1957||1994|
|10 paise||16 mm||2 g||Ferritic stainless steel||Circular||Emblem of India||Value||1961||1998|
|20 paise||26 mm||2 g||Aluminium||Hexagon||Emblem of India||Value||1982||1997|
|25 paise||19 mm||2.83 g||Ferritic stainless steel||Circular||Emblem of India, value||Rhinoceros||1988||2002|
|50 paise||22 mm||3.79 g||Ferritic stainless steel||Circular||Emblem of India, value||Value, Hand showing clenched fist||2008||-|
|1 rupee||25 mm||4.85 g||Ferritic stainless steel||Circular||Emblem of India, value||Value, Hand showing thumb||2007||-|
|2 rupees||27 mm||5.62 g||Ferritic stainless steel||Circular||Emblem of India||Value, Hand showing 2 fingers||2007||-|
|5 rupees||23 mm||6 g||Ferritic stainless steel||Circular||Emblem of India||Value, wavy lines||2007||-|
|10 rupees||28 mm||8 g||Bimetallic||Circular||Emblem of India with value||Value, wavy lines||2009||-|
|ઢાંચો:Standard coin table notice|
The coins are minted at the four locations of the India Government Mint. Note the 1, 2 & 5 rupee coins have been minted since independence. Coins minted with the "Hand Picture" are 2005 onwards.
બ્રિટિશ ભારત ૧૮૬૧-૧૯૪૭[ફેરફાર કરો]
૧૮૬૧માં તે વખતની સરકારે કાગળી ચલણ અમલમાં મુક્યું, ૧૮૮૪માં ૧૦ રૂપિયા, ૧૮૯૨માં ૫ રૂપિયા, ૧૮૯૯માં ૧૦,૦૦૦ રૂપિયા, ૧૯૦૦માં ૧૦૦ રૂપિયા, ૧૯૦૫માં ૧૦૦ રૂપિયા, ૧૯૦૭માં ૫૦૦ રૂપિયા અને ૧૯૦૯માં ૧૦૦૦ રૂપિયા. ૧૯૧૭માં, ૧ અને ૨'૧/૨ રૂપિયાની ચલણ નોટોનું લોકાર્પણ કરવામાં આવ્યું.
ભારતીય રિઝર્વ બેંકે ૧૯૩૮માં ૨, ૫, ૧૦, ૫૦, ૧૦૦, ૧૦૦૦ અને ૧૦,૦૦૦ રૂપિયાની નોટો છાપીને નાણું છાપવાની શરૂઆત કરી, જ્યારે સરકારે ૧ રૂપિયાની નોટો છાપવાની સત્તા પોતાની પાસે રાખી.
Independent issues since 1949[ફેરફાર કરો]
After independence, new designs were introduced to remove the portrait of the King. The government continued to issue the 1 rupee note, while the Reserve Bank issued other denominations, including the 5000 and 10,000 rupee notes introduced in 1949. In the 1970s, 20 and 50 rupee notes were introduced but denominations higher than 100 rupees were demonetized in 1978. In 1987, the 500 rupee note was introduced, followed by the 1000 rupees in 2000.
In September 2009, Reserve Bank of India has decided to introduce polymer notes (polymer banknote) on a trial basis. Initially, 100 crore (1 billion) pieces of ₨. 10 denomination notes will be introduced. According to the Reserve Bank officials, the polymer notes will have an average lifespan of 5 years (4 times the regular Indian bank notes) and be difficult to counterfeit. The polymer notes are cleaner than the regular notes, too.
Currently circulating notes[ફેરફાર કરો]
|Mahatma Gandhi Series |
|Image Obverse||Value||Dimensions||Main Color||Description||Date of issue|
|82px||₨. 5||117 × 63 mm||Green||Mahatma Gandhi||Tractor||2002 / 2009|
|96px||₨. 10||137 × 63 mm||Orange-violet||Rhinoceros, elephant, tiger||1996 / 2006|
|103px||₨. 20||147 × 63 mm||Red-orange||Palm trees, Kovalam Beachs||2002 / 2006|
|103px||₨. 50||147 × 73 mm||Violet||Parliament of India||1997 / 2005|
|110px||₨. 100||157 × 73 mm||Blue-green at centre, brown-purple at 2 sides||Himalaya Mountains||1996 / 2005|
|117px||₨. 500||167 × 73 mm||Olive and yellow||Dandi March||1997 / 2005|
|124px||₨. 1000||177 × 73 mm||Amber-Red||Economy of India||2000 / 2005|
|ઢાંચો:Standard banknote table notice|
The current series, which began in 1996, is called the Mahatma Gandhi series. Currency notes are printed at the Currency Note Press, Nashik, Bank Note Press, Dewas, Bharatiya Note Mudra Nigam (P) Limited presses at Salboni and Mysore and at the Watermark Paper Manufacturing Mill, Hoshangabad.
Each banknote has its amount written in 17 languages (English & Hindi on the front, and 15 others on the back) illustrating the diversity of the country. ATMs usually give ₨. 100, ₨. 500, and ₨. 1000 notes. ₨. 1000 notes are analogous to the higher valued notes of the United States dollar and the euro.
In recent years, the banknotes were slightly modified to include see through registration on the left side of obverse. In addition, the year is now printed on the reverse. EURion constellation was added to ₨. 100. The revised ₨. 10, 20 were issued in 2006, and ₨. 50, 100, 1000 in 2005. The RS. 5 notes were stopped from being printed, but have started again since 2009.
The Zero rupee note is not an official government issue.
Language panel[ફેરફાર કરો]
The language panel on Indian rupee banknotes display the denomination of the note in 15 of the 22 official languages of India.
Security features[ફેરફાર કરો]
- Watermark — White side panel of notes has Mahatma Gandhi watermark.
- Security thread — All notes have a silver security band with inscriptions visible when held against light which reads Bharat in Hindi and RBI in English.
- Latent image — Higher denominational notes (Rupees 20 onwards) display the note's denominational value in numerals when held horizontally at eye level.
- Microlettering — Numeral denominational value is visible under magnifying glass between security thread and latent image.
- Fluorescence — Number panels glow under ultra-violet light.
- Optically variable ink — Notes of ₨. 500 and ₨. 1000 have their numerals printed in optically variable ink. Number appears green when note is held flat but changes to blue when viewed at angle.
- Back-to-back registration — Floral design printed on the front and the back of the note coincides and perfectly overlap each other when viewed against light.
- EURion constellation
Officially, the Indian rupee has a market determined exchange rate. However, the RBI trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate. This is sometimes called a dirty or managed float. Other rates such as the EUR/INR and INR/JPY have volatilities that are typical of floating exchange rates. It should be noted, however, that unlike China, successive administrations (through RBI, the central bank) have not followed a policy of pegging the INR to a specific foreign currency at a particular exchange rate. RBI intervention in currency markets is solely to deliver low volatility in the exchange rates, and not to take a view on the rate or direction of the Indian rupee in relation to other currencies.
Also affecting convertibility is a series of customs regulations restricting the import and export of rupees. Legally, foreign nationals are forbidden from importing or exporting rupees, while Indian nationals can import and export only up to 5000 rupees at a time, and the possession of 500 and 1000 rupee notes in Nepal is prohibited.
RBI also exercises a system of capital controls in addition to the intervention (through active trading) in the currency markets. On the current account, there are no currency conversion restrictions hindering buying or selling foreign exchange (though trade barriers do exist). On the capital account, foreign institutional investors have convertibility to bring money in and out of the country and buy securities (subject to certain quantitative restrictions). Local firms are able to take capital out of the country in order to expand globally. But local households are restricted in their ability to do global diversification. However, owing to an enormous expansion of the current account and the capital account, India is increasingly moving towards de facto full convertibility.
Many economist have a confusion regarding the interchange of the currency with the gold, but the system that India follows is that money cannot be exchanged for gold, in any circumstances or any situation.Money cannot be changed into gold by the RBI. This is because it will becomes difficult to handle it. India follows the same principle of Great Britain and America.
- 1991 - India began to lift restrictions on its currency. A series of reforms remove restrictions on current account transactions including trade, interest payments & remittances and on some capital assets-based transactions. Liberalized Exchange Rate Management
System (LERMS), a dual exchange rate system, introduced a partial convertibility of the Rupee in March 1992.
- 1997 - A panel set up to explore capital account convertibility recommended India move towards full convertibility by 2000, but timetable abandoned in the wake of the 1997-98 East Asian financial crisis.
- 2006 - The Prime Minister, Dr Manmohan Singh, asks the Finance Minister and the Reserve Bank of India to prepare a road map for moving towards capital account convertibility. "The "Fuller Capital Account Convertibility Report"" (PDF). 2006-07-31. Retrieved 2009-01-23. Check date values in:
Exchange rates[ફેરફાર કરો]
Historical exchange rates[ફેરફાર કરો]
|*before Jan 1, 1999, European Currency Unit, code XEU|
Current exchange rates[ફેરફાર કરો]
- A dictionary of Urdu, classical Hindi, and English
- Indian banknotes
- http://finmin.nic.in/the_ministry/dept_eco_affairs/currency_coinage/Comp_Design.pdf COMPETITION FOR DESIGN
- "India seeks global symbol for rupee". Hindustan Times. 2009-03-06. Retrieved 2009-03-07. Check date values in:
- "Cabinet defers decision on rupee symbol". Sify Finance. 2010-06-24. Retrieved 2010-07-10. Check date values in:
- "List of Five Entries which have been selected for Final.". Ministry of Finance, Govt of India. Retrieved 2010-07-15.
- "Cabinet approves new rupee symbol". Times of India. 2010-07-15. Retrieved 2010-07-15. Check date values in:
- "IIT post-graduate gives Rupee its symbol". Indian Express. 2010-07-15. Retrieved 2010-07-15. Check date values in:
- "RBI-to-introduce-Rs-10-plastic-notes". Hindustan Times. 2009-09-08. Retrieved 2009-09-08. Check date values in:
- "Convertibility: Patnaik, 2003" (PDF)
- "'Neither the government nor the central bank takes a view on the rupee (exchange rate movements), as long as the movement is orderly', says Indian Minister of Finance"
- Rituparna Kar and Nityananda Sarkar: Mean and volatility dynamics of Indian rupee/US dollar exchange rate series: an empirical investigation in Asia-Pacific Finan Markets (2006) 13:41–69, p. 48. DOI 10.1007/s10690-007-9034-0 .
- "FXHistory®: historical currency exchange rates" (database). OANDA Corporation. Retrieved 2009-09-01.
Further reading[ફેરફાર કરો]
- Bhimrao Ramji Ambedkar: The problem of the rupee: Its origin and its solution (history of indian currency & banking), Chapter 2, Rajagraha, Bombay, 7. Mai 1947