Translated from Sanskrit, "rupee" means "minted silver." That was the name of the coins in India that were made from this precious metal. The first "white" money appeared in the XV century. Indian rupees very quickly became popular not only in their own country, but also in neighboring states. Today they are actively used in Nepal, Pakistan, Indonesia, as well as in Sri Lanka, Maldives and Seychelles.
The appearance of the first coins
An interesting and original history of development is the Indian rupee. Coins in the distant Middle Ages began to be minted under the leadership of the ruler Shera Shah, who understood that the development of the country's economy depends on them. The first of them were equal to 40 pieces of copper - paise. Their weight slightly exceeded 11.5 grams. At first, the rupee was round. But under Shah Akbar, namely, he began to actively popularize the monetary unit of India, the coins acquired a rectangular shape: blessings and wishes were written on them. Often, rupees received personal names in honor of the rich nobles.
The course of the Indian rupee was at first very high, and the coins were of excellent quality. But this was observed before the formation of the English colonial state in India. After this event - the loss of the power of independence - the rupee also lost its original and original appearance. The faces of the English kings began to appear on its sides more and more often. The first depicted monarch Wilhelm IV.
Currency Unit Development
Indian rupees became fully unified in 1835. After 30 years, the so-called government rupee was officially put into circulation, and a new division was established: one coin was equal to 64 paise. But this did not affect the strength of the local currency: already in 1883 the period of rapid depreciation of the currency began. They said that the silver standard was the reason. Like, if coins are minted from gold, they are always able to remain competitive.
In 1947, India freed itself from British rule. From this period, a new stage in the development of rupees begins: the country began to issue banknotes. Paper notes were before that, but they were not so overwhelmingly popular. In the second half of the 20th century, the currency began to take on an interesting look, “overgrow” with strong security features. Nowadays, the rupee is in active use in India. On the territory of the state there is a wonderful coin museum where all copies of the monetary unit are collected: from the moment of their creation to the present day.
Modern currency
Today, the monetary unit is largely dependent on the US currency. The Indian rupee against the dollar, as well as the euro and ruble, is correlated according to the numerical values and frameworks that are affected by the financial situation in the state and the world economy as a whole. It is indicated by the icon Rs. Banknotes of the same denomination may be different: this is not a fake, but various modifications of the same denomination. Despite this, all paper money has a common mandatory element - the image of Mahatma Gandhi. Banknotes may be issued in honor of certain people or important events. For example, on the back of 500 rupees is a picture of the Salt Camp, an episode of the struggle of the people against colonial taxes. Instead, the country's largest monetary unit, a thousand rupees, is dedicated to the Indian economy.
The currency of the Indian rupee has often been modified. Modern coins have regained a round shape, only they are made of aluminum these days. The national emblem of the state is minted on all - the capitol of the
ruler of Ashoka decorated with three lions
. He led the state back in the 3rd century BC.
Degree of protection
Indian rupees have a whole system of elements that protect them from mass fraud. One of the degrees of protection is a watermark made in the form of a portrait of Mahatma Gandhi. It is visible if you look at the banknote against the light. Banknotes also have the so-called diving metallized thread, which appears in bright light as a dark continuous strip. In addition, the RBI microelement is located on the currency, which can only be seen with a multiple increase, as well as a hidden picture, visible only from a certain angle.
Other degrees of protection include special tactile marks, embossed prints, the original serial number, and a matching image. Banknotes are painted with a special paint, which contains optically variable pigmentation, which changes the palette depending on the viewing angle and light intensity. There are also UV elements: colored fibers and luminescent substances that transform the shade under the influence of ultraviolet rays.
Exchange
If you decide to spend your vacation in India, you will definitely have a question about where and how best to exchange Russian money for local ones. A financial transaction can be carried out directly at the airport upon arrival. But experienced tourists do not advise doing this: the Indian rupee to the ruble at these points is at a slightly low price level. That is, you can lose a little on the exchange. In addition, they can deceive you: India is an eastern country on the very outskirts of Asia, where counterfeiters are actively operating. As for the exchange of money that seemingly decent hotel administrators or taxi drivers offer you, such actions are also fraught with the loss of hard-earned money. Run away from them like a plague.
The Indian rupee course is the most profitable for a traveler in a bank. There are exchange offices, but they need to be contacted only as a last resort. When conducting a financial transaction, make sure that you are not given too large banknotes. With such bills you will find unnecessary difficulties in paying for services and goods: here sellers never have change.
Card system
Indian rupees can be obtained not only by exchanging "live" money, but also by withdrawing from a plastic card. Instead, it is not recommended to use traveller's checks : this method is far from safe, in addition, it has long become obsolete. If the choice was stopped on the card, then it will be wise to go to your bank before the trip and clarify all the important nuances: is the plastic fixture serviced in India, what difficulties may arise in obtaining money. Ask your manager about possible restrictions and bonuses.
In an exotic eastern country, it is better to grab cards of international systems: Mastercard and Visa. You can use them not only at ATMs near financial institutions, but also in large shopping centers, airports, and hotels. Having lost a card, do not despair: immediately call your bank to be immediately blocked there. It is better to store the card in the hotel room in a special safe. Theft cases in India often occur, and even the staff of your hotel can commit a crime. Especially if you see that you are a holder of a GOLD class card.
ATM
When withdrawing money using these devices, you pay a commission. Its size is similar to the deposit, which is pulled together in foreign banks upon receipt of funds. Usually this is 1% of the total amount. Moreover, the commission may not be less than 3 dollars. It turns out that the more money you withdraw, the more profitable it will cost you. There will be no need to constantly run to the ATM, each time losing a fairly decent amount.
There are some restrictions in India. For example, you will not be able to remove more than 20 thousand rupees. Banks also have a strict framework regarding the daily amount issued. Be sure to keep all receipts after transactions. They are useful in the reverse exchange of rupees for foreign currency, when buying tickets at the box office for tourists, as well as during other important manipulations. By the way, there are ATMs in the country that “pull” banknotes back if you did not pick them up within 30 seconds after the end of the operation.
Exchange rate
Many travelers claim that it is most beneficial in India to exchange dollars. The American currency here is very much appreciated by the local population: it is readily accepted not only by serious financial institutions, but also by small traders in the market. The Indian rupee against the dollar today is in the following ratio: 1: 0.01. That is, for one dollar you can buy 68 rupees. To navigate: approximately the cost of a liter of gas in this country. For ten dollars it’s possible to rent a modest room in a hotel: daily accommodation in a two-star hotel costs from 600 rupees.
Indian rupee to euro is at a similar price level. The banknote of a unit denomination is equal to 0.01 European monetary unit.
One euro can be exchanged for 74 rupees: this is seven minutes of a call home from the card of the mobile operator of this country. As for domestic money, the range in which the Indian rupee is to the ruble is: 1: 1.2. For one ruble you can buy only 0.83 rupees. When exchanging money, do not forget to count them and check the appearance of banknotes for possible damage.