Some facts about Rupee. 1. Derived from Sanskrit word - TopicsExpress

Some facts about Rupee. 1. Derived from Sanskrit word rupya. 2. The first currency called rupee was introduced in the 16th century by Sher Shah Suri, founder of the Sur Empire of Northern India. 3. Official currency of India, Pakistan, Sri Lanka, Nepal, Indonesia (as Rupiah), Mauritius, Syechelles and Maldives (as Rufiya) 4. Untill 1959 INR was the official currency of Dubai and Qatar, when India created a new Gulf rupee (also known as the external rupee) to hinder the smuggling of gold. The Gulf rupee was legal tender until 1966, when India significantly devalued the Indian rupee and a new Qatar-Dubai Riyal was established to provide economic stability. 5. Till 1925 Afghanistan had Rupee as its currency 6. Until the middle of the 20th century, Tibets official currency was also known as the Tibetan rupee. 7. The original rūpaya was a silver coin weighing 178 grains (11.534 grams). The coin has been used since then, even during the times of British India, defined as 11.66g of .917% silver with an ASW of .3437 of a Troy ounce (that is, silver worth about US$10 at modern prices). At the end of the 19th century, the Indian silver rupee went unto a gold exchange standard at a fixed rate of one rupee to one shilling and fourpence in British currency, or 15 rupees to 1 pound sterling. 8. On 5 March 2009, the Indian government announced a contest to create a sign for the Indian rupee. During the 2010 Union Budget, the then Finance Minister Pranab Mukherjee mentioned that the proposed sign would reflect and capture the Indian ethos and culture. Five signs created by Nondita Correa-Mehrotra, Hitesh Padmashali, Shibin KK, Shahrukh J Irani, and D Udaya Kumar had been short-listed from around 3,331 responses received and one of them was to be finalized at the Union Council of Ministers of India meeting held on 24 June 2010. The decision was deferred by a request of the Finance Minister, and it was decided when they met again on 15 July 2010, and selected the symbol created by D.Udaya Kumar son of N. Dharmalingam, a former DMK MLA. ---Source - Wikipedia---

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