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BIRTH OF RUPEE * The first RUPEE was introduced by Sher Shah Suri (1486-1545) based on a ratio of 40 copper pieces (paisa) per rupee. * The name was derived from the Sanskrit word RAUPYAKAM, meaning Silver.
INDIAN RUPEE During British rule, and the first decade of independence, 1 Damidi(pie)=0.520833paise, 1 Kani(pice) =1.5625paise, 1 Paraka =3.125paise, 1 Anna =6.25paise, 1 Beda =12.5paise, 1 Pavala =25paise, 1 Artharupee =50paise, 1 Rupee =100paise
INDIAN RUPEE Until 1815, the Madras Presidency also issued a currency based on the fanam, with 12 fanams equal to the rupee. In 1957, decimalisation occurred and the rupee was divided into 100 naye paise (Hindi for "new paise"). In 1964, the initial "naye" was dropped. Many still refer to 25, 50 and 75 paise as 4, 8 and 12 annas respectively.
INDIAN RUPEE The Government of India introduced its first paper money in 1861: 10 rupee notes. 1864: 20 rupee notes 1872: 5 rupees in 1872, 1899: 10,000 rupees 1900: 100 rupees 1905: 50 rupees 1907: 500 rupees 1909: 1000 rupees 1917: 1 and 2½ rupees notes were introduced.
1938: The Reserve Bank of India began note production in issuing 2, 5, 10, 100, 1000 and 10000 rupee notes, while the Government continued to issue 1 rupee notes. After independence, new designs were introduced to remove the portrait of the King. The government continued to issue the 1 rupee note, while the Reserve Bank issued other denominations, including the 5000 and 10,000 rupee notes introduced in 1949.
In the 1970s: Rupee notes of 20 and 50 were introduced but denominations higher than 100 rupees were demonetized in 1978. 1987:Rupee note of 500 was introduced, followed by the 1000 rupees in 2000. The rupee was legal tender across several countries during British colonial days Rupee was replaced with local currency in Qatar and within the United Arab Emirates until 1966 and in Kuwait (1961) and Bahrain (1965) INDIAN RUPEE
India escaped coming under British sterling coinage that became effective in 1825 because it was under the East India Company, not the British Crown. The earliest issues of paper rupees were 1770-1832: By the Bank of Hindustan 1773–1775:The General Bank of Bengal and Bihar established by Warren Hastings) 1784–91:The Bengal Bank. INDIAN RUPEE