is the indian rupee backed by gold 
all banknotes that are issued by the reserve bank of india are backed by assets such as gold government securities or foreign currency assets 3the bottom linethe national currency of india is the indian rupee its currency code is inr and the rupee currency symbol is the reserve bank of india issues both coins and notes for different rupee denominations as well as a 50 paise coin there are 100 paise in one rupee india is a cash based economy which has led to trouble with counterfeit and other fake currency the reserve bank has reissued multiple denominations of rupee notes with additional security features to combat currency fraud 