Did You Know These Surprising Facts About The Indian Currency?

The Indian currency is Indian Rupee and the currency code is INR. The Reserve Bank of India is the authority in charge of issuing this currency to its citizens.  The first ever Indian coin was introduced way back in 1540-45 by Sher Shah Suri, called Rupiya. However, the first paper note was issued by the Bank of Hindustan. Now the Reserve Bank of India is in charge of regulating and issuing the Indian currency. The Indian coins come in rupees, but before, coins came with the denomination of paisa. The common Rupees issued in India are Rs. 10, 20, 50, 100, 500, and 2000. The common coins issued in India include Rs. 1, 2,  10, and 20. 

Facts about Indian Currency

1. After Independence in 1947, for straight one year, Pakistan and India used each other currency notes with little tweaks. 

2. Demonetization of Indian currency happened thrice in the history of the Republic of India- 1946, 1978, and 2016. 

3. In order to celebrate the 150th birth anniversary of Rabindranath Tagore, a Rs. 150 coin was launched in 2012 throughout the nation with the image of the Indian poet and writer. 

4. The Rupee symbol is an amalgamation of Devanagari ‘Ra’ and the Roman capital ‘R’ with two horizontal lines striking through to form an ‘equal to’ sign. 

5. This fact about Indian currency might not be known to everyone that Udaya Kumar Dharmalingam designed the symbol of Rupees. 

6. India rupee note is not made of paper, it is made of cotton. This is because the durability of cotton increases which makes it prone to water and dust as compared to paper. 

7. In an Indian coin, if you see the symbol below the date, it states the place the coin was minted. There are four coin mints all over India- Mumbai, Kolkata, Hyderabad, and Noida. 

8. Other countries like Sri Lanka, Pakistan, and Indonesia have similar currencies as India, but it is differentiated by the symbol of ₹. 

9. On the left side of the back of an Indian note, the value of the note is written in 17 languages, with only one as an international language which is Chinese. 

10.  The horizontal lines in the ₹ sign also symbolize the background effect of the Indian flag flowing at the top. 

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These were some of the amazing facts about Indian currency.  If you want to know more about topics like this, then visit our general knowledge page! Alternatively, you can also read our blog on general knowledge for competitive exams!