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The history of the rupee traces back to Ancient India circa 3rd century BC. Ancient India was one of the earliest issuers of coins in the world, [2] along with the Lydian staters, several other Middle Eastern coinages and the Chinese wen. The term is from rūpya, a Sanskrit term for silver coin, [3] from Sanskrit rūpa, beautiful form. [4]
The Indian rupee was a silver-based currency during much of the 19th century, which had severe consequences on the standard value of the currency, as stronger economies were on the gold standard. During British rule, and the first decade of independence, the rupee was subdivided into 16 annas.
The history of the rupee traces back to Ancient India circa 3rd century BC. Ancient India was one of the earliest issuers of coins in the world, [98] along with the Lydian staters, several other Middle Eastern coinages and the Chinese wen. The term is from rūpya, a Sanskrit term for silver coin, [99] from Sanskrit rūpa, beautiful form. [100]
Exchange rate history of the Indian rupee. This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence ...
The British Empire (red) and Mongol Empire (blue) were the largest and second-largest empires in history, respectively. The precise extent of the Mongol Empire at its greatest territorial expansion is a matter of debate among scholars. Several empires in human history have been contenders for the largest of all time, depending on definition and ...
The Digital Rupee (e₹) [39] 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). [40] The Digital Rupee was proposed in January 2017 and launched on 1 December 2022. [41] Digital Rupee is using blockchain distributed-ledger technology. [42]
Human history is the development of humankind from prehistory to the present. Modern humans evolved in Africa around 300,000 years ago and initially lived as hunter-gatherers. They migrated out of Africa during the Last Ice Age and had populated most of the Earth by the end of the Ice Age 12,000 years ago.
In 1820, India's GDP was 16% of the global GDP. By 1870, it had fallen to 12%, and by 1947 to 4%. The Republic of India, founded in 1947, adopted central planning for most of its independent history, with extensive public ownership, regulation, red tape and trade barriers. [ 13][ 14] After the 1991 economic crisis, the central government began ...