Indian Rupee

Overview

Economy

• India is a member of G20, BRICS, SCO, SAARC, ASEAN Plus One, Commonwealth.
• Main industries include: Textiles, Chemicals, Food processing, Steel, Transportation equipment, Cement, Mining, Petroleum, Machinery, Software, Pharmaceuticals.
• India is part of the World Trade Organization.
• Imports are crude oil, precious stones, electrical machinery, organic chemicals, coal, machine tools.
• Major exports include petroleum products, precious stones, vehicles, machinery, iron and steel, chemicals, pharmaceutical products, cereals, apparel.
• GDP: $3.89 trillion (2023 est.).
• GDP per capita: $2,731 (2023 est.).
• Unemployment rate: 3.2% (2022 est.).
• Inflation rate: 5.4% (2023 est.).
• Main trading partners: United States, China, United Arab Emirates, Saudi Arabia, Singapore, Germany.
• Trade agreements: SAFTA, India-ASEAN FTA, Various bilateral agreements.

History

• Previous currencies used: Various princely state currencies, British Indian rupee, Portuguese and French colonial currencies.
• The modern Indian rupee was introduced in 1950, replacing the previous rupee system. The rupee has ancient origins, with the name derived from the Sanskrit word 'rūpya' meaning silver.
• 1540: Sur Empire introduces rupee
• 1835: British standardize Indian rupee
• 1947: Independence, rupee continues
• 1950: Decimal system adopted
• 1991: Economic liberalization begins
• 2016: Demonetization of high-value notes
• 2017: Goods and Services Tax implementation
• Exchange rate peg: GBP (colonial period).
• Exchange rate peg: USD (1975-1993).
• Exchange rate peg: Basket peg (1993-1995).
• Exchange rate peg: Managed float (1995-present).

General Information

• ISO 4217 Code: INR
• Symbols: INR/₹
• Currency Subunits: 100 paise
• Central Bank: Reserve Bank of India
• Monetary Policy: Flexible inflation targeting with 4±2% target. Managed floating exchange rate with focus on macroeconomic stability.
• Bills: 10 INR, 20 INR, 50 INR, 100 INR, 200 INR, 500 INR, 2000 INR
• Coins: 50 paise, 1 rupee, 2 rupees, 5 rupees, 10 rupees, 20 rupees
• USD Exchange Rate: Variable (approximately 83-84 INR per USD)
• Pegged To: None (Floating)
• Capital: New Delhi
• Population: 1,428,627,663 (2023 est.)
• Area: 3,287,263 km²
• Languages: Hindi 43.6%, Bengali 8%, Marathi 6.9%, Telugu 6.7%, Tamil 5.7%, Gujarati 4.6%, Urdu 4.2%, Kannada 3.6%, Odia 3.1%, Malayalam 2.9%, Punjabi 2.7%, Assamese 1.3%, Maithili 1.1%, Other 5.6%, English (associate official)
• Time Zones: UTC+5:30 (India Standard Time)
• Government Type: Federal parliamentary republic
• Head of Government: President (head of state), Prime Minister (head of government)
• Independence: August 15, 1947 (from United Kingdom)
• Ethnic Groups: Indo-Aryan 72%, Dravidian 25%, Mongoloid and other 3%
• Religions: Hindu 79.8%, Muslim 14.2%, Christian 2.3%, Sikh 1.7%, Buddhist 0.7%, Jain 0.4%, Other 0.9%
• Literacy Rate: 74.4% (2018 est.)
• Transport: Extensive railway network (4th largest in world), major airports (Delhi, Mumbai, Bangalore), highway system, major ports
• Communications: Large telecommunications market, 45% internet penetration, world's largest mobile subscriber base
• Energy: Coal 55%, Oil 28%, Natural gas 6%, Hydroelectric 5%, Nuclear 2%, Renewables 4%
• Countries Using This Currency: India
• Data Sources: Central Bank: Reserve Bank of India (rbi.org.in), Economic Data: Ministry of Statistics India, World Bank, IMF, Trade Data: Directorate General of Foreign Trade, Demographic Data: Census of India, Geographic Data: India Meteorological Department, Historical Data: Reserve Bank of India archives
• Last Updated: 2025