Exploring the Riches of Rupee: Countries with Currency as Rupee
The Rupee is a currency that has a rich history and is used in several countries across the globe. It is derived from the Sanskrit word ‘Rupyakam’, which means ‘silver coin’. The Rupee has been a medium of exchange in South Asia for centuries, and its use has spread to other parts of the world through trade and colonization. Today, the Rupee is the official currency of several countries in South Asia and Africa, each with its unique design and value.
Countries Using the Rupee as Currency
Several countries use the Rupee as their official currency. These include:
- India: The Indian Rupee (INR) is the official currency of India. It is issued and controlled by the Reserve Bank of India. The symbol for the Indian Rupee was officially adopted in 2010 and is derived from the Devanagari letter “र” (Ra) with an added horizontal line.
- Pakistan: The Pakistani Rupee (PKR) is the currency of Pakistan. The State Bank of Pakistan issues it. The word Rupee is derived from the Sanskrit word Rupya, which means silver coin.
- Nepal: The Nepalese Rupee (NPR) is the official currency of Nepal. The Central Bank of Nepal, known as Nepal Rastra Bank, issues it.
- Sri Lanka: The Sri Lankan Rupee (LKR) is the currency of Sri Lanka. It is issued by the Central Bank of Sri Lanka.
- Indonesia: Although not exactly the same, the Indonesian Rupiah (IDR) shares its roots with the Rupee. It is issued by Bank Indonesia.
- Seychelles: The Seychellois Rupee (SCR) is the currency of Seychelles. The Central Bank of Seychelles issues it.
- Mauritius: The Mauritian Rupee (MUR) is the currency of Mauritius. The Bank of Mauritius issues it.
Historical Significance of the Rupee
The Rupee has a rich history that dates back to ancient times. It was first introduced by Sher Shah Suri (1540–1545), during his rule of the Mughal Empire. The silver coin remained in use during the Mughal period, Maratha era, British India, and in independent India as well.
Today, the Rupee is not just a medium of exchange but also a symbol of national identity. Each country that uses the Rupee has its unique design that reflects its culture, history, and national symbols. Despite the differences in value and design, the Rupee continues to be a common link between these diverse countries.
The Rupee, with its rich history and widespread use, is more than just a currency. It is a symbol of cultural heritage and economic identity for several countries. As we explore the riches of the Rupee, we also delve into the rich tapestry of these nations’ histories and their interconnectedness through trade and exchange.