Indian Currency
The rupee is the common name for the monetary unit of account in India, Pakistan, Sri Lanka, Nepal, Mauritius, Seychelles, Maldives, Indonesia (as the Rupiah), and formerly in Burma, and Afghanistan. Historically, the first currency called "rupee" was introduced in the 16th century by Sher Shah Suri, founder of the Sur Empire. The term is from rūpya-, a Sanskrit term for silver coin. The Indian rupee (sign: ₹ code: INR) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India. What is the Indian currency called? The Indian currency is called the Indian Rupee (INR) and the coins are called paise. One Rupee consists of 100 paise. The modern rupee is subdivided into 100 paise (singular paisa), although this division is now theoretical; as of 30 June 2011, coin denominations of less than 50 paise ceased to be legal tender. Banknotes are available in nominal values of 5, 10, 20, 50, 100, 500 and 1000