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E Currency Exchange Script - An OverviewThe Indian rupee (indicator: ₹; code: INR), is the Formal currency of the Republic of India. The rupee is subdivided into 100 paise (singular paisa), even though as of 2011, twenty five paise isn't any far more a legal tender. The issuance of your 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 of the Reserve Bank of India Act, 1934. The rupee is named following the silver coin, rupiya, very first issued by Sultan Sher Shah Suri while in the sixteenth century and later ongoing via the Mughal Empire. In 2010, a new symbol '₹', was formally adopted. It was derived from The mixture with the Devanagari consonant "र" (ra) plus the Latin capital letter "R" without the need of its vertical bar (much like the R rotunda).
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