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The Indian rupee (indicator: ₹; code: INR), would be the official currency of the Republic of India. The rupee is subdivided into a hundred paise (singular paisa), while as of 2011, twenty five paise isn't any much more a legal tender. The issuance from the currency is managed via the Reserve Financial institution of India. The Reserve Bank manages currency in India and derives its part in currency management on the basis in the Reserve Financial institution of India Act, 1934. The rupee is named after the silver coin, rupiya, very first issued by Sultan Sher Shah Suri during the 16th century and later on continued via the Mughal Empire. In 2010, a whole new image '₹', was officially adopted. It was derived from the combination of your Devanagari consonant "र" (ra) and also the Latin cash letter "R" devoid of its vertical bar (just like the R rotunda).
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