what is the indian rupee inr 
the indian rupee inr is the currency of india inr is the international organization for standardization currency code for the indian rupee the currency symbol for the indian rupee is understanding the indian rupee inr the indian rupee derives its name from the rupiya a silver coin first issued by sultan sher shah suri in the 16th century 1coins in india are issued in denominations of 50 paise one rupee two rupees five rupees ten rupees and 20 rupees 2 a paise is 1 100th of a rupee coins worth 50 paise are called small coins while coins equal to or above one rupee are known as rupee coins 3paper currency or banknotes are issued in denominations of 5 10 20 50 100 500 and 2 000 rupees on the reverse side of paper rupees denominations are printed in 15 languages while denominations are printed in hindi and english on the front side 3the banknotes are updated frequently with new designs including distinct differences from old mahatma gandhi series of banknotes to the new ones of the same name the notes include various themes of india s history and heritage 4security and counterfeiting of the rupeeindia is a cash based economy which has resulted in fake currency being circulated by those engaged in illegal behavior the reserve bank of india rbi has had to change and update rupee notes with new security features over the years fake notes which might appear similar to legal notes are counterfeited by money launderers and terrorists typically the high denominations are the most counterfeited notes 4in 2016 the indian government announced the demonetization of all 500 and 1 000 banknotes of the mahatma gandhi series claiming it would hamstring the underground economy making the use of illegal and counterfeit cash in funding illegal activity and terrorism more difficult the 500 note has been replaced by one in the new mahatma gandhi series with enhanced security features 5special considerations capital and convertibility controlsthe rupee has been subject to various capital controls and convertibility restrictions over the years for example it is illegal for foreign nationals to import or export rupees and indian nationals may only import and export rupees in limited amounts 6a country s current account is comprised of the country s savings investment flows and the net trade in goods and services india s current account has no currency conversion restrictions aside from trade barriers 7the capital account measures foreign reserves business and institutional flows the indian government relaxes and tightens restrictions on foreign investment putting caps or removing them periodically to maintain a healthy and balanced capital account 7in recent years the government relaxed foreign investment flow restrictions to boost the weakening currency exchange rate and encourage business investment in the country 8 foreign institutional investors and local companies can bring money in and take money out of the country but need to check with the reserve bank of india for the current rules and regulations 7the rupee s value in modern timesin the 19th century large increases in the quantity of silver production caused a precipitous drop in silver s value leading to a steep decline in the rupee s value from 1927 to 1946 the rupee was pegged to the british pound it was then pegged to the u s dollar until 1975 currently it mostly floats on the foreign exchange market with the reserve bank of india actively trading the currency to manage its value 9various factors can impact the exchange rate of the currency including india imports oil and a rise in prices can cause inflation and force the rbi to intervene to support the economy examples of the indian rupee inr the denominations of coins and notes in circulation as of march 2024 are any changes in which coins or notes are in circulation and accepted as legal tender in india can be found on the website of the reserve bank of india 