![]() ![]() dollar at a rate of 7.5 rupees = 1 dollar until 1971. When India launched its first 5 Year Plan, the Indian Rupee resultingly used to peg with the U.S. However, the sources state that British pound would have worth about 4 USD at that point of time – hence, concluding that the US Dollar would’ve been more than 3Rs then. Right after Independence however, the Indian rupee continued to peg to the British pound at a rate of 1 rupee = 1 shilling and 6 pence what can be withdrawn from the stated that as 13 1/3 rupees per British pound. As reported: from 1927 to 1966, 1 pound valued to 13 INR. Also, the Indian Rupee was pegged to Pounds then since India was under British Raj, keeping the value stable at that moment. If you believe that exchanging 1 USD to INR in 1947 would have got you 1 Rupee exactly, then, sadly, that’s not true reason being when India got her independence in the year 1947, there were no outstanding credits on theīalance sheet of India that kept Indian Rupee at parity with the US Dollar. Dharmalingam is a politician and former MLA of the DMK party of the state of Tamil Nadu.To answer the legendary question–How the Indian rupee has devalued since 1947 till date?We’ve come up with a simple clarification. The designer of Indian rupee symbol was born in 1978 in Kallakurichi, Tamil Nadu, India. Udaya Kumar is the person behind the design of rupees symbol, He is an Associate professor and Head of Department of Design, IIT Guwahati. Since 15 July 2020, the Unicode character U+20B9 ₹ (HTML ₹) has been started to use as Unicode character for the Indian rupee sign. The Indian government made an announcement to create a sign for the Indian rupee on 5 March 2009 through a campaign that any Indian can design and propose the symbol depending on individuals creativity. No one was aware about this fancy rupee symbol before the announcement made by the Indian government on 15 July 2010. Apart from the exam criteria, knowledge of the Indian currency increases your general awareness too. The topics about Indian currency are important for many competitive and bank exams. ![]() Know more about the Indian currency in this article. Rupee Symbol History & Adoption of Rupee Symbol The Indian Currency as you all know is the Indian Rupee. Other Asian countries circulating rupee currencies are still using the abbreviation Rs for their currency as Pakistan, Bangladesh, Nepal, Bhutan including all the countries over the Asia.įor Indians it was the great day, when it was announced that the rupee symbol will be adopted and followed by the all countries since 15 July 2010. ![]() Before adopting ₹ as rupees symbol the abbreviation INR, RS and Re were commonly used for denoting Indian currency. ![]()
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