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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 Indian rupee was the official currency of Dubai and Qatar until 1959, when India created a new Gulf rupee (also known as the "external rupee") to hinder the smuggling of gold. [14] 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 ...
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 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]
The history of money is the development over time of systems for the exchange, storage, and measurement of wealth. Money is a means of fulfilling these functions indirectly and in general rather than directly, as with barter . Money may take a physical form as in coins and notes, or may exist as a written or electronic account.
A lakh ( / læk, lɑːk /; abbreviated L; sometimes written lac[ 1]) is a unit in the Indian numbering system equal to one hundred thousand (100,000; scientific notation : 10 5 ). [ 1][ 2] In the Indian 2, 2, 3 convention of digit grouping, it is written as 1,00,000. [ 3]
Ritesh Agarwal. Ritesh Agarwal (born 16 November 1993) is an Indian billionaire entrepreneur [ 2] and the founder and CEO of OYO Rooms. [ 3] He has been a panelist on Shark Tank India (season 3) in 2024. [ 4] As of March 2024, Agarwal's net worth is estimated to be around ₹16,000 crore. [ 5]
These included 1/2 ₹, 1/4 ₹, 2 anna, 1 anna, 1/2 anna & 1 pice coins, and are referred to as the anna series or pre-decimal coinage. Under the anna series, one rupee was divided into 16 annas or 64 pice, with each anna equal to 4 pice. In 1957, India shifted to the decimal system, though for a short period of time, both decimal and non ...