Though Pāṇini mentions rūpya ( रूप्य), it is unclear whether he was referring to coinage. The weight remained unchanged well beyond the end of the Mughals until the 20th century. The immediate precursor of the rupee is the rūpiya-the silver coin weighing 178 grains minted in northern India, first by Sher Shah Suri during his brief rule between 15, and later adopted and standardized by the Mughal Empire. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. The issuance of the currency is controlled by the Reserve Bank of India. The rupee is subdivided into 100 paise (singular: paisa) though as of 2023, coins of denomination of 1 rupee are the lowest value in use whereas 2000 rupees is the highest. dollar.The Indian rupee ( symbol ₹ code: INR) is the official currency in the Republic of India. A similar pattern of fluctuation can be seen with the euro against the U.S. By 2019, this value had fluctuated, to a value of 78.84, which meant that one euro could buy 78.84 Indian rupees. In 2014, the euro to Indian rupee annual average exchange rate was equal to 81.04, which meant that one euro could buy 81.04 Indian rupees. By 2018, the total value of euro currency in circulation was almost 1.2 trillion euros, or over 3.4 thousand euros per capita.Įuro to Indian rupeeBetween the years of 20, the average annual exchange rate of the euro to the Indian rupee noted an overall increase. This group of 19 countries is otherwise known as the eurozone or euro area.

This is different than an annual measure that denotes concrete values as of the end of the year.ĮstablishmentThe euro, which was established in 1992, introduced in non-physical form in 1999 and finally rolled out in 2002, is used by 19 of the 27 member states of the European Union. The average, or standardized, measure is based on many observations throughout the period in question. As of one euro was worth 90.01 Indian rupees. This according to a comparison between average monthly and daily exchange rates. One euro in 2022 was worth less Indian rupees than in 2021, with exchange rates reaching values close to 2018 or 2019.

Inr to all currency