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72-712: Until 1966, Qatar used the Indian rupee as its currency , in the form of Gulf rupees . When India devalued the rupee in 1966, Qatar, along with the other states using the Gulf rupee, chose to introduce its own currency. Before doing so, Qatar briefly adopted the Saudi riyal , then introduced the Qatar and Dubai riyal following the signing of the Qatar-Dubai Currency Agreement on 21 March 1966. The Saudi riyal

144-571: A 50 riyal note was issued in 1976. The Qatar Central Bank was established by decree 15 on 5 August 1973. All coins and notes issued by the Qatar Monetary Agency became the property of the bank but continued to circulate for several years. In 2003, the Fourth Series was issued and on September 26, 2007, the revised of 100 and 500 riyal was issued, follow the revised of the 1, 5, 10, 50 on September 15, 2008. On December 13, 2020,

216-681: A coin of silver, weighing 178 grains (or 11.53 grams), which was also termed the rupiya . During Babur 's time, the brass to silver exchange ratio was roughly 50:2. The silver coin remained in use during the Mughal period , Maratha era as well as in British India . Among the earliest issues of paper rupees include; the Bank of Hindustan (1770–1832), the General Bank of Bengal and Bihar (1773–1775, established by Warren Hastings ), and

288-525: A gold currency. This goal, if it was their goal, the Government of India have never attained. In 1913, John Maynard Keynes writes in his book Indian Currency and Finance that during the financial year 1900–1901, gold coins (sovereigns) worth £6,750,000 were given to the Indian people in the hope that they would circulate as currency. But against the expectation of the Government, not even half of that

360-578: A gold standard should be adopted without delay...they recommended (1) that the British sovereign be given full legal tender power in India, and (2) that the Indian mints be thrown open to its unrestricted coinage (for gold coins only). These recommendations were acceptable to both governments and were shortly afterwards translated into laws. The act making gold a legal tender was promulgated on 15 September 1899, and preparations were soon thereafter undertaken for

432-503: A single coinage for the EIC was introduced. It consisted of copper 1 ⁄ 12 , 1 ⁄ 4 and 1 ⁄ 2 anna , silver 1 ⁄ 4 , 1 ⁄ 3 and 1 rupee and gold 1 and 2 mohurs. In 1841, silver 2 annas were added, followed by copper 1 ⁄ 2 pice in 1853. The coinage of the EIC continued to be issued until 1862, even after the company had been taken over by

504-538: Is a combination of the Devanagari letter ⟨ र ⟩ ("ra") and the Latin capital letter ⟨ R ⟩ without its vertical bar. The parallel lines at the top (with white space between them) makes an allusion to the tricolour Indian flag and also depict an equality sign that symbolizes the nation's desire to reduce economic disparity. The final selected symbol was designed by D. Udaya Kumar , a Bachelor of Architecture and (at

576-572: Is pegged to the US dollar at a fixed exchange rate of US$ 1 = QR 3.64. This rate was enshrined into Qatari law by Royal Decree No.34 of 2001, signed by Hamad bin Khalifa Al Thani , Emir of Qatar , on 9 July 2001. Article (1) states that the Qatari riyal exchange rate shall be pegged against the US dollar at QR 3.64, and sets upper and lower limits of QR 3.6415 and QR 3.6385 for

648-533: Is rarely seen in circulation. The coins are minted at the four locations of the India Government Mint . The ₹ 1, ₹ 2, and ₹ 5 coins have been minted since independence. The Government of India is set to introduce a new ₹ 20 coin with a dodecagonal shape, and like the ₹ 10 coin, also bi-metallic, along with new designs for the new versions of the ₹ 1, ₹ 2, ₹ 5 and ₹ 10 coins, which was announced on 6 March 2019. The Government of India has

720-453: Is using blockchain distributed-ledger technology . British East India Company (EIC) was given the right in 1717 to mint coins in the name of the Mughal emperor Farrukhsiyar on the island of Bombay. By 1792 the EIC demonetised all other coins till they were reduced to only 3 types of coins, i.e. EIC, Mughal & Maratha coins. After EIC expanded its control over India, it brought the "Coinage Act of 1835" and started to mint coins in

792-635: The Delhi High Court , by petitioner Rakesh Kumar, who was a participant in the competition, described the process as "full of discrepancies" and "flawed", and named the Finance Ministry and the chairman of Indian Rupee Symbol Selection Committee as respondents. On 26 November 2010, the Delhi High Court single bench dismissed the writ petition, stating there was no justifiable ground for the stated allegations. However, later

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864-833: The Mughal Empire . The weight remained unchanged well beyond the end of the Mughals until the 20th century. The history of the Indian rupee traces back to ancient India around the 6th century BCE: ancient India was one of the earliest issuers of coins in the world, along with the Chinese wen and Lydian staters . Arthashastra , written by Chanakya , Prime minister to the first Maurya emperor Chandragupta Maurya (c. 340–290 BCE), mentions silver coins as rūpyarūpa , other types including gold coins (suvarṇarūpa), copper coins (tamrarūpa) and lead coins (sīsarūpa) are mentioned. Rūpa means 'form' or 'shape'; for example, in

936-638: The Reserve Bank in terms of the RBI Act . After independence, the Government of India Mint , minted numismatics coins imprinted with Indian statesmen, historical and religious figures. In the years 2010 and 2011, for the first time ever, ₹ 75, ₹ 150 and ₹ 1000 coins were minted in India to commemorate the Platinum Jubilee of the Reserve Bank of India , the 150th birth anniversary of

1008-411: The Reserve Bank of India (RBI). In 1997 the 20 paise coin was discontinued, followed by the 10 paise coin in 1998, and the 25 paise in 2002. Between 2005 and 2008 new, lighter fifty-paise, one-, two-, and five-rupee coins were introduced, made from ferritic stainless steel. The move was prompted by the melting-down of older coins, whose face value was less than their scrap value. The demonetisation of

1080-459: The Reserve Bank of India Act, 1934 . Pāṇini (6th to 4th century BCE) mentions rūpya ( रूप्य ). While Shankar Goyal mentions it is unclear whether Panini was referring to coinage, other scholars conclude that Panini uses the term rūpa to mean a piece of precious metal (typically silver) used as a coin, and a rūpya to mean a stamped piece of metal, a coin in the modern sense. The Arthashastra , written by Chanakya , prime minister to

1152-580: The Royal Mint in Sydney . In an 1864 attempt to make the British gold sovereign the "imperial coin", the treasuries in Bombay and Calcutta were instructed to receive (but not to issue) gold sovereigns; therefore, these gold sovereigns never left the vaults. As the British government gave up hope of replacing the rupee in India with the pound sterling , it realised for the same reason it could not replace

1224-761: The silver dollar in the Straits Settlements with the Indian rupee (as the British East India Company had desired). Since the silver crisis of 1873 , several nations switched over to a gold exchange standard (wherein silver or banknotes circulate locally but with a fixed gold value for export purposes), including India in the 1890s. In 1870, India was connected to Britain by a submarine telegraph cable. Around 1875, Britain started paying India for exported goods in India Council (paper) Bills (instead of silver). If, therefore,

1296-570: The 'English (India)' language setting is used). On 18 May 2011, Microsoft released an update KB2496898 to Windows Vista , Windows Server 2008 , Windows 7 and Windows Server 2008 R2 operating systems to include support for this new Indian rupee symbol. With the Windows update, it is now possible to use alt code text entry to obtain the Indian Rupee symbol: Alt + 8 3 7 7 . On systems running Windows 8 or later,

1368-793: The 125th anniversary of the births of Sarvepalli Radhakrishnan and B. R. Ambedkar , respectively. The three Presidencies established by the British East India Company ( Bengal , Bombay and Madras ) each issued their own coinages until 1835. All three issued rupees and fractions thereof down to 1 ⁄ 8 - and 1 ⁄ 16 -rupee in silver. Madras also issued two-rupee coins. Copper denominations were more varied. Bengal issued one- pie , 1 ⁄ 2 -, one- and two- paise coins. Bombay issued 1-pie, 1 ⁄ 4 -, 1 ⁄ 2 -, 1-, 1 1 ⁄ 2 -, 2- and 4-paise coins. In Madras, there were copper coins for two and four pies and one, two and four paise, with

1440-468: The 2017 Qatar diplomatic crisis , banks in the countries blockading Qatar had to stop trading with Qatari banks. This led to a fall in liquidity offshore and a move away from the fixed exchange rate outside of Qatar, with up to QR 3.81 being required to buy 1 US dollar in late June 2017, a situation that continued until December 2017. This also led to cessation of trading of Qatari banknotes outside of Qatar with certain banks in certain countries such as

1512-403: The 25-paise coin and all paise coins below it took place, and a new series of coins (50 paise – nicknamed athanni  – one, two, five, and ten rupees with the new rupee sign) were put into circulation in 2011. In 2016 the 50 paise coin was last minted. Coins commonly in circulation are one, two, five, ten, and twenty rupees. Although it is still legal tender, the 50-paise ( athanni ) coin

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1584-610: The Bengal Bank (1784–91). –1900) Historically, the rupee was a silver coin . This had severe consequences in the nineteenth century when the strongest economies in the world were on the gold standard (that is, paper linked to gold). The discovery of large quantities of silver in the United States and several European colonies caused the panic of 1873 which resulted in a decline in the value of silver relative to gold, devaluing India's standard currency. This event

1656-476: The Committee of 1898 by Mr. A. M. Lindsay, in proposing a scheme closely similar in principle to that which was eventually adopted, has been largely fulfilled. "This change," he said, "will pass unnoticed, except by the intelligent few, and it is satisfactory to find that by this almost imperceptible process, the Indian currency will be placed on a footing which Ricardo and other great authorities have advocated as

1728-594: The Crown . In 1862, coins were introduced (known as "regal issues") which bore the profile of Queen Victoria and the designation "India". Their denominations were 1 ⁄ 12 anna , 1 ⁄ 2 pice , 1 ⁄ 4 and 1 ⁄ 2 anna (all in copper), 2 annas, 1 ⁄ 4 , 1 ⁄ 2 and one rupee (silver), and five and ten rupees and one mohur (gold). The gold denominations ceased production in 1891, and no 1 ⁄ 2 -anna coins were issued after 1877. In 1906, bronze replaced copper for

1800-573: The Delhi High Court, on 30 January 2013, in W.P. (c) 2449/2012 titled Rakesh Kumar Singh Vs. Union of India (PIL) and listed before the Division bench of the Chief Justice and Mr. Justice V. K. Jain, taking cognizance of and in view of the irregularities and arbitrariness involved in public competitions for designing symbols or logos or designing logos by other methods of important national bodies or institutions, in their judgment directed all

1872-503: The First World War. In the early 1940s, several changes were implemented. The 1 ⁄ 12 anna and 1 ⁄ 2 pice ceased production, the 1 ⁄ 4 anna was changed to a bronze, holed coin , cupro-nickel and nickel-brass 1 ⁄ 2 -anna coins were introduced, nickel-brass was used to produce Mintsomeone- and two-annas coins, and the silver composition was reduced from 91.7 to 50 per cent. The last of

1944-468: The Government as to have precipitated an internal crisis, which would have been fatal to British success in the war. From 1931 to 1941, the United Kingdom purchased large amounts of gold from India and its many other colonies just by increasing price of gold, as Britain was able to pay in printable paper currency. Similarly, on 19 June 1934, Roosevelt made Silver Purchase Act (which increased

2016-513: The India Council in London should not step in to sell bills on India, the merchants and bankers would have to send silver to make good the (trade) balances. Thus a channel for the outflow of silver was stopped, in 1875, by the India Council in London. The great importance of these (Council) Bills, however, is the effect they have on the Market Price of Silver: and they have in fact been one of

2088-539: The Indian government said it would try to adopt the sign within six months in the country and globally within 18 to 24 months. Major banks have also started printing cheques with the new Indian rupee sign, where the traditional ⟨₨⟩ sign was used. The Indian Postal Department also started printing postage stamps with this new Indian rupee sign, when it issued the Commonwealth Games commemorative stamps on 3 October 2010. In his budget speech on 28 February 2011,

2160-654: The Indian rupee replaced the Danish Indian rupee in 1845, the French Indian rupee in 1954 and the Portuguese Indian escudo in 1961. Following the independence of India in 1947 and the accession of the princely states to the new Union , the Indian rupee replaced all the currencies of the previously autonomous states (although the Hyderabadi rupee was not demonetised until 1959). Some of

2232-520: The Qatar Central Bank issued its fifth series of banknotes for circulation. Included in this series is the 200 riyal banknote. The front side of the notes share a common design based on traditional geometric patterns, the Flag of Qatar , Qatari flora and a gate representing historic Qatari architecture. Qatar issued a commemorative 22 riyal note for the 2022 FIFA World Cup . The Qatari riyal

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2304-575: The Qatar Central Bank's purchase and sale of dollars with banks operating in Qatar. Article (2) provides the Qatar Central Bank with the authority to determine the volume and the time of sale of US dollars and the associated conditions of such sales and payments. Article (3) cancels the earlier Royal Decree No.60 of 1975, by which the riyal was officially pegged to the IMF 's special drawing rights (SDRs). Note: Rates obtained from these websites may contradict with pegged rate mentioned above In response to

2376-472: The Qatari riyal separate from Dubai on 19 May 1973. The old notes continued to circulate in parallel for 90 days, at which time they were withdrawn. For a wider history surrounding currency in the region, see the history of British currency in the Middle East . In 1966, coins were introduced in the name of Qatar and Dubai for 1, 5, 10, 25, and 50 dirhams. In 1973, a new series of coins was introduced in

2448-655: The UK. Within Qatar itself, however, the Central Bank of Qatar has continued to buy and sell US dollars at the fixed rate. Indian rupee The Indian rupee ( symbol : ₹ ; code : INR ) is the official currency in 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 manages currency in India and derives its role in currency management based on

2520-424: The best of all currency systems, viz., one in which the currency media used in the internal circulation are confined to notes and cheap token coins, which are made to act precisely as if they were bits of gold by being made convertible into gold for foreign payment purposes. The committee concurred in the opinion of the Indian government that the mints should remain closed to the unrestricted coinage of silver and that

2592-481: The birth of Rabindranath Tagore and 1000 years of the Brihadeeswarar Temple , respectively. In 2012, a ₹ 60 piececoins was also issued to commemorate 60 years of the Government of India Mint, Kolkata. ₹ 100 coin was also released commemorating the 100th anniversary of Mahatma Gandhi 's return to India. Commemorative coins of ₹ 125 were released on 4 September 2015 and 6 December 2015 to honour

2664-406: The coinage of gold sovereigns in the mint at Bombay. Silver, therefore, has ceased to serve as, and standard; and the Indian currency system of to-day (that is 1901) may be described as that of a "limping" gold standard similar to the systems of France, Germany, and Holland, and the United States. The Committee of 1898 explicitly declared themselves to be in favour of the eventual establishment of

2736-547: The currency of India through the British Raj and beyond. In 1835, British India adopted a mono-metallic silver standard based on the rupee coin; this decision was influenced by a letter written by Lord Liverpool in 1805 extolling the virtues of mono-metallism. Following the First War of Independence in 1857, the British government took direct control of India. From 1851, gold sovereigns were produced en masse at

2808-651: The entries from Nondita Correa-Mehrotra, Hitesh Padmashali, Shibin KK, Shahrukh J. Irani, and D. Udaya Kumar: one of them was due to be selected at the Union Council of Ministers of India meeting held on 24 June 2010. However, the decision was deferred at the request of the Finance Minister, and the final decision was made when they met again on 15 July 2010, when they chose the symbol created by Udaya Kumar , Associate Professor IIT Guwahati . The new sign

2880-405: The finance minister, Pranab Mukherjee, announced that the sign would be incorporated in future coin issues. Coins of denomination of ₹ 1, ₹ 2, ₹ 5, and ₹ 10 with the new rupee symbol have been put into circulation. As of January 2012, the new Indian rupee sign has been incorporated in the currency notes in the denominations of ₹ 10, ₹ 100, ₹ 500, and ₹ 1000 and as of 12 April 2012 this

2952-492: The first Maurya emperor Chandragupta Maurya ( c.  340–290 BCE ), mentions silver coins as rūpyarūpa . Other types of coins, including gold coins ( suvarṇarūpa ), copper coins ( tāmrarūpa ), and lead coins ( sīsarūpa ), are also mentioned. The immediate precursor of the rupee is the rūpiya —the silver coin weighing 178 grains minted in northern India, first by Sher Shah Suri during his brief rule between 1540 and 1545, and later adopted and standardized by

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3024-541: The first operating system to support the Indian rupee symbol by default in 2010. Since its 10.10 version it has supported the symbol out-of-the-box, as it was added to the Ubuntu font family by a contributor. Since then, it has been included in various Linux distributions. On systems running Ubuntu, most other Linux distributions and ChromeOS , the symbol may be typed using Ctrl + ⇧ Shift + u   2 0 B 9 Space (or simply AltGr + 4 if

3096-670: The first two denominated as 1 ⁄ 2 and one dub (or 1 ⁄ 96 and 1 ⁄ 48 ) rupee. Madras also issued the Madras fanam until 1815. All three Presidencies issued gold mohurs and fractions of mohurs including 1 ⁄ 16 , 1 ⁄ 2 , 1 ⁄ 4 in Bengal, 1 ⁄ 15 (a gold rupee) and 1 ⁄ 3 (pancia) in Bombay and 1 ⁄ 4 , 1 ⁄ 3 and 1 ⁄ 2 in Madras. In 1835,

3168-504: The following year, both the quantity and the price rose further: net exports totalled 8.4 million ounces, valued at INR 65.52 crore. In the ten years ended March 1941, total net exports were of the order of 43 million ounces (1337.3 tons) valued at about INR 375 crore, or an average price of INR 32-12-4 per tola. In the autumn of 1917 (when the silver price rose to 55 pence ), there was danger of uprisings in India (against paper currency) which would handicap seriously British participation in

3240-409: The gold that was sold. However, the price of gold in India, on the basis of the official exchange rate of the rupee around 1 s. 6 d ., was lower than the price prevailing abroad practically throughout ; the disparity in prices made the export of the metal profitable; and this continued for almost a decade. Thus, in 1931–32, there were net exports of 7.7 million ounces , valued at INR 57.98 crore . In

3312-414: The lowest three denominations; in 1907, a cupro-nickel one-anna coin was introduced. In 1918–1919 cupro-nickel two-, four- and eight-annas were introduced, although the four- and eight-annas coins were only issued until 1921 and did not replace their silver equivalents. In 1918, the Bombay mint also struck gold sovereigns and 15-rupee coins identical in size to the sovereigns as an emergency measure during

3384-568: The more convenient forced loans of paper money۔ The Indian Currency Committee or Fowler Committee was a government committee appointed by the British-run Government of India on 29 April 1898 to examine the currency situation in India. They collected a wide range of testimony, examined as many as forty-nine witnesses, and only reported their conclusions in July 1899, after more than a year's deliberation. The prophecy made before

3456-624: The most potent factors in recent years in causing the diminution in the Value of Silver as compared to Gold. The Indian and Chinese products for which silver is paid were and are, since 1873–74, very low in price, and it therefore takes less silver to purchase a larger quantity of Eastern commodities. Now, on taking the several agents into united consideration, it will certainly not seem very mysterious why silver should not only have fallen in price The great nations had recourse to two expedients for replenishing their exchequers, – first, loans, and, second,

3528-637: The name of the British king. EIC rule was replaced by British Crown raj which brought the "Paper Currency Act of 1861" and the "Uniform Coinage Act of 1906". After 2021, the government of independent India amended "The Coinage Act, 2011", the " Foreign Exchange Management Act (FEMA), 1999," the " Information Technology Act, 2000 " and the "Crypto-currency and Regulation of Official Digital Currency Bill, 2021". India's first coins after independence were issued in 1950 in denominations of 1 pice , 1 ⁄ 2 , one and two annas, 1 ⁄ 4 , 1 ⁄ 2 and one-rupee . The sizes and composition were

3600-521: The new Indian rupee symbol, which can be found in the Character Viewer. As of Mac OS X Mountain Lion (10.8), users using the Devanagari keyboard can enter the new Indian rupee symbol by typing ⌥ Option - 4 (a combination that yields the cent symbol on a US keyboard layout). Sailfish OS also provides the symbol in its default keyboard. A symbol for the paisa ⟨ [REDACTED] ⟩

3672-483: The only right to mint the coins and one rupee note. The responsibility for coinage comes under the Coinage Act, 1906 which is amended from time to time. The designing and minting of coins in various denominations is also the responsibility of the Government of India. Coins are minted at the four India Government Mints at Mumbai , Kolkata , Hyderabad , and Noida . The coins are issued for circulation only through

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3744-435: The price of silver) and purchased about 44,000 tons of silver, paying with paper silver certificates . In 1939, Dickson H. Leavens wrote in his book Silver Money : "In recent years the increased price of gold, measured in depreciated paper currencies, has attracted to the market (of London) large quantities (of gold) formerly hoarded or held in the form of ornaments in India and China". In their respective former colonies,

3816-418: The regal issues were cupro-nickel 1 ⁄ 4 -, 1 ⁄ 2 - and one-rupee pieces minted in 1946 and 1947, bearing the image of George VI , King and Emperor on the obverse and an Indian lion on the reverse. Indian rupee sign The Indian rupee sign ⟨ ₹ ⟩ is the currency symbol for the Indian rupee ( ISO 4217 : INR), the official currency of India . Designed by D. Udaya Kumar , it

3888-475: The same as the final regal issues, except for the one-piece (which was bronze, but not holed). The first decimal-coin issues in India consisted of 1 , 2 , 5 , 10, 25 and 50 naye paise , and 1 rupee . The 1 naya paisa was bronze; the 2, 5, and 10 naye paise were cupro-nickel, and the 25 naye paise (nicknamed chawanni ; 25 naye paise equals 4 annas ), 50 naye paise (also called athanni ; 50 naye paise equalled 8 old annas) and 1-rupee were nickel. In 1964,

3960-417: The same sizes and compositions as the earlier pieces but in the name of Qatar only. Only 25 and 50 dirham coins are now circulated, although smaller coins remain legal tender. On September 18, 1966, the Qatar & Dubai Currency Board introduced notes for 1, 5, 10, 25, 50, and 100 riyals. These were replaced on 19 May 1973 by notes of the Qatar Monetary Agency in denominations of 1, 5, 10, 100, and 500 riyals;

4032-568: The states had issued rupees equal to those issued by the British (such as the Travancore rupee ). Other currencies (including the Hyderabadi rupee and the Kutch kori ) had different values. The values of the subdivisions of the rupee during British rule (and in the first decade of independence) were: In 2010, a new rupee sign ( ₹ ) was officially adopted. As its designer explained, it

4104-410: The symbol can be typed using the 'English (India)' keyboard layout with the key combination AltGr + 4 (or Ctrl + Alt + 4 or Ctrl + ⇧ Shift + 4 ). Modern keyboards for the Indian market have the symbol engraved on the 4 key as an alternate graphic . Apple Inc. has added support for the rupee symbol with iOS 7 in 2013. Mac OS X Lion (10.7) also includes

4176-548: The symbols for multiple rupees and one rupee, respectively, and these symbols are still used in situations where the official symbol is unavailable. The Digital Rupee (e₹) 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). The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. Digital Rupee

4248-509: The then Chancellor of the Exchequer (finance minister) of the United Kingdom, Winston Churchill , restored it to pre-war levels. As a result, the price of gold fell rapidly. While the rest of Europe purchased large quantities of gold from the United Kingdom, there was little increase in her gold reserves. This dealt a blow to an already deteriorating British economy. The United Kingdom began to look to its possessions as India to compensate for

4320-484: The time) a visual design student at the Industrial Design Centre, IIT Bombay . The thoughts and philosophy behind the design are explained in this presentation. Ministry of Finance and Department of Economic Affairs of the Government of India approved the sign. The approval was given by Sushil Kumar, Under Secretary of the Government of India in 2010. Upon the symbol's adoption in July 2010,

4392-419: The top and the Latin capital letter ⟨ R ⟩ without its vertical bar. On 5 March 2009, the Indian government announced a contest to create a sign for the Indian rupee. During the 2010 Union Budget , then Union Finance Minister Pranab Mukherjee said that the proposed sign should reflect and capture the Indian ethos and culture. From around 3,331 responses received, five symbols were shortlisted. These were

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4464-413: The war. Inconvertibility (of paper currency into coin) would lead to a run on Post Office Savings Banks . It would prevent the further expansion of (paper currency) note issues and cause a rise of prices, in paper currency, that would greatly increase the cost of obtaining war supplies for export; to have reduced the silver content of this historic [rupee] coin might well have caused such popular distrust of

4536-567: The word rūpyarūpa : rūpya 'wrought silver' and rūpa 'form'. The Gupta Empire produced large numbers of silver coins clearly influenced by those of the earlier Western Satraps by Chandragupta II . The silver Rūpaka ( Sanskrit : रूपक ) coins were weighed approximately 20 rattis (2.2678g). In the intermediate times there was no fixed monetary system as reported by the Da Tang Xi Yu Ji . During his five-year rule from 1540 to 1545, Sultan Sher Shah Suri issued

4608-586: The words naya / naye were removed from all coins. Between 1957 and 1967, aluminium one -, two -, three -, five - and ten-paise coins were introduced. In 1968 nickel-brass 20-paise coins were introduced, and replaced by aluminium coins in 1982. Between 1972 and 1975, cupro-nickel replaced nickel in the 25- and 50-paise and the 1-rupee coins; in 1982, cupro-nickel two-rupee coins were introduced. In 1988 stainless steel 10-, 25- and 50-paise coins were introduced, followed by 1- and 5-rupee coins in 1992. Five-rupee coins, made from brass , are being minted by

4680-449: Was also designed using the same concept as the symbol for rupee. However, since paisa coins are no longer minted and, as of 2019 most denominations of the paisa have been demonetized, they are not in circulation. As the RBI had already stopped minting any paisa coins before this proposal, the proposed symbol never appeared on any coins. The Indian rupee sign selection process was challenged in

4752-522: Was banned and the Japanese rupee (1942–44) was introduced. At the onset of the First World War , the cost of gold was very low and therefore the pound sterling had high value. But during the war, the value of the pound fell alarmingly due to rising war expenses. At the end of the war, the value of the pound was only a fraction of what it had been before the war. It remained low until 1925, when

4824-486: Was derived from the combination of the Devanagari consonant " र " ( ra ) and the Latin capital letter "R" without its vertical bar. The parallel lines at the top (with white space between them) are said to make an allusion to the flag of India , and also depict an equality sign that symbolises the nation's desire to reduce economic disparity . The first series of coins with the new rupee sign started in circulation on 8 July 2011. Before this, India used " ₨ " and "Re" as

4896-549: Was extended to denominations of ₹ 20 and ₹ 50. On 10 August 2010, the Unicode Technical Committee accepted the proposed code position U+20B9 ₹ INDIAN RUPEE SIGN . The character has been encoded in Unicode 6.0, and named distinctly from the existing character U+20A8 ₨ RUPEE SIGN , which will continue to be available as the generic rupee sign . Ubuntu became

4968-572: Was known as "the fall of the rupee". In Britain War, the Long Depression resulted in bankruptcies, escalating unemployment, a halt in public works, and a major trade slump that lasted until 1897. India was unaffected by the imperial order-in-council of 1825, which attempted to introduce British sterling coinage to the British colonies. India, at that time, was controlled by the British East India Company . The silver rupee coin continued as

5040-417: Was presented to the public by the Government of India on 15 July 2010, following its selection through an open competition among Indian residents. Before its adoption, the most commonly used symbols for the rupee were ⟨ Rs ⟩, ⟨ Re ⟩ or, in texts in Indian languages, an appropriate abbreviation in the language used. The design is based on the Devanagari letter ⟨र⟩ ( ra ) with a double horizontal line at

5112-478: Was returned to accounts. As this experiment failed spectacularly, the government abandoned the practice but did not abandon the narrative of the gold standard. Subsequently, much of the gold held by the Government of India was shipped to the Bank of England in 1901 and held there. During World War II , Colonial British control over parts of Nagaland was lost to Japanese forces , the British Indian rupee

5184-493: Was worth 1.065 Gulf rupees, whilst the Qatar and Dubai riyal was equal to the Gulf rupee prior to its devaluation. Initially pegged with sterling at one shilling and six pence (1s. 6d.) per riyal, its value was changed to one shilling and nine pence (1s. 9d.) when sterling was devalued in 1967, maintaining its value in relation to gold. Following Dubai 's entry into the United Arab Emirates , Qatar began issuing

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