History of Indian Currency | Paper Money Starts | History of rupee coins

Today we are going to give you some important information related to money such as: When did the money start, who made it, and when was the money first used? And so on. Today we are going to tell you about the entire history of Indian currency through this article and will also tell you how the Indian currency has developed.

Where did the word Rupa originate?

The word rupee is derived from the Sanskrit word rupee, which means silver. The oldest language of our Bharatvarsha was Sanskrit, it implies that the word rupee has originated from the Hindu Sanskrit linguistic word rupee.

When and who used the word Rupees?

According to historian experts, the first use of the word rupee was done by Sher Shah Suri in the interval of 1545 to 1540. Sher Shah Suri started the practice of rupee in order to smooth the good economy and good reign even more and he ordered the rupee to be run as coins first.

When did paper notes begin as money in India?

In fact, paper notes were introduced in our country from 1770 AD and it was first issued by the Bank of India. But when the British rule of India was going on, the paper notes were issued by the British rule in 1917 for the first time during that period too. Before the independence of our country in Nashik, Maharashtra, in 1926, the rupee was allowed to be printed by the bank in paper form.

When was the Reserve Bank of India allowed to print the Indian Ring?

When in the country of India, RBI did not get all these rights like printing of notes, printing of rupees of notes and responsibility of keeping books on the notes issued etc. Then before that all Indian currencies used to come in print from England. In the year 1935, the Reserve Bank of India received the responsibility of issuing rupees and printing the rupee. For the first time in our country, note printing machine was established in 1928 in Nashik district of Maharashtra.And here, for the first time, notes of 5, 10 rupees, 100 rupees, 1000 rupees and 10000 rupees were printed by the Reserve Bank of India and all these paper notes issued by RBI were also issued all over India.

 

What is the history of pictures printed on Indian notes?

When our country was not thousand by British rule, before that, pictures were printed by the British administration on all Indian currencies. These postures by the British administration continued for some time even after independence.But when Indian currencies were first printed in India in 1949, their appearance was completely separated from the British administration. The Indian currency was first printed as one rupee and the Ashoka Pillar was given a place in the print of this note. From this place, changes have been made continuously in Indian rupees during print. The RBI has printed several notes, in which different cultural and historical buildings of India were printed in different ways. For example, Gateway of India And the images of Brihadeeswarar temple were printed and not only that, when the notes were printed in 1953, the Hindi language was used by the Government of India on the notes.

Who invented the rupee symbol?

The rupee symbol was invented by IIT Assistant Professor Uday Kumar of Guwahati. In 2010, the sign was officially started printing on the notes.

When did the devaluation of the rupee happen in India and what is the devaluation?

Before knowing when devaluation happened in our country, let us know, what does devaluation actually mean? In real terms, devaluation means when the economic currency of a country is reduced compared to the currency of another country.

To explain you in easy language, if the value of the currency of our country is ₹ 2 in Nepal, in this case if any other country reduces the value of our currency, then in this situation in Nepal which is the value of our currency at this time Is either equal to it or it will be less then in this situation we call it devaluation. In our country so far, there has been a total devaluation of 3 times. The first devaluation of the Indian currency was in 1949.