The full form or meaning of INR is the Indian Rupee which is the currency name of the official Indian currency.
It is the republic of India’s official currency.
The Indian rupees is approved as the currency and controlled by the Reserve bank of India which is the central bank of India.
In 1957 the Indian rupee was divided into 100 paise it means 1 rupee is equal to 100 paise.
1 Indian Rupee or INR = 100 paise
The reserve bank of India is responsible to manage the currency in India based on the Reserve bank of India (RBI) act of 1934. The reserve bank of India is also responsible to perform ht role in currency management.
Indian rupee or INR has been referred to as the “₹” symbol formed by Udaya Kumar instead of Rs. Symbol since the year 2010. One rupee which was the lowest value used in the country was demonized in 2019.
The Indian rupee coins are issued by the reserve bank of India in various metals for denominations such as 50 paise, 1 Rupee, 2 Rupee, 5 Rupee and 10 Rupee etc.
Many of these coined issued by RBI incorporate King Ashoka on them. the banknotes are also issued by the Reserve bank of India for amounts of one, two, five, ten, twenty, fifty, hundred, five hundred, two thousand and so on.
These denominations appear on the opposite end of Mahatma Gandhi’s portrait except in the one rupee note. Instead of Mahatma Gandhi’s photo, the note of one Indian Rupee has a picture of one rupee coin.
INR types
There are various types of Indian rupee or INR in coins and rupees such as –
- Indian Rupee coin
- One Rupee
- Two Rupee
- Five Rupee
- Ten rupee
Indian rupee notes
- One rupee
- Two rupee
- Five rupee
- Ten rupee
- Twenty rupee
- Fifty rupee
- One hundred Indian rupee note
- Two hundred Indian rupee note
- Five hundred Indian rupee note
- Two thousand Indian rupee note
INR security issues
Indian rupee security features implementation is critical in order to maintain legitimate transactions in the economy of India.
It is because there is always a chance of duplication of the Indian rupee notes.
These duplicate Indian rupee notes become a massive cause of the weakening and decline of the Indian economy.
However there are some key points included to prevent this duplication and avoid any security issues, these are –
There should be an attached safety threat
There is the use of fluorescence and optically variable ink for the Indian rupee notes.
There is a watermark used for Indian rupee notes.
Identification tags use
Interesting facts about Indian Rupee
these are some interesting facts about INR, everyone should know about-
- If I ask someone what material Indian note is made of, then 10 out of 10 people will answer paper, but you will be surprised to know that Indian note is made of cotton and rag, not paper.
- In addition to Hindi and English, the value of the note is written in 15 regional languages on the Indian note, so in total, its value is written in 17 languages on a note.
- We all know that against $1 we have to pay more than ₹ 70, but do you know that there are many countries in the world where the Indian currency is very big.
Some such countries are Indonesia, Vietnam, Cambodia, Iceland, Japan, Chile, South Korea. - Do you know that till the year 1978, ₹ 10000 note was also in circulation in India, which was later replaced by 500 and 1000 rupee notes?
- It costs less for RBI to make an Indian note, while it costs more to make coins than it, e.g. RBI costs less than ₹ 10 to make ₹ 2000 notes.
INR FAQs
What is the meaning of 1 INR?
1 INR stands for one Indian rupee where Indian rupee is the official currency of India issued by the government of India and reserve bank of India.
INR or the Indian rupee is the Republic of India’s official currency. INR is controlled by the Reserve bank of India. in 1957 INR was divided into 100 paise where one rupee or 1 INR is equal to 100 paise.
1 INR = 100 Paise
What is the meaning of 5 INR?
5 INR stands for the 5 Indian rupees. It can be either 5 INR or Indian rupee of note or 5 Indian rupee coins.
Is INR the same as RS?
Yes INR is the same as Rs. However, INR is known for the Indian rupee and is represented as ₹ instead of Rs. Pakistani Rupee is also indicated as Rs.
On the other hand, the currency of Indonesia and Maldives is also Rupiah and Rufiyaa respectively. Here INR specifically defines the Indian rupee.
How is INR written?
INR or Indian rupee is written as INR or indicated with the symbol ₹ since 2010 which was introduced by Udaya Kumar.
Some other famous full forms of INR
INR- International Normalized Ration- in Medical
INR- International Nursing Review- in Journals
