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Indian Rupee
The Indian rupee is the standard of currency used in India. Each rupee is then divided into 100 paise. The singular for paise is paisa.
The term rupee is derived from the Sanskrit word rupyakam which literally means a silver coin.
The rupee is identified by its code INR.
The money is issued in the form of 5,10, 20, 50, 100, 500 and 1,000 Rupee notes.
Coins in circulation are the 25, 50, (paise) and the R1, 2 and 5 (rupee).
History of the rupee
India was actually one of the first countries to ever issue coins. It actually began to issue coins around about the 6th century B.C. Rupees as coins were issued in the late 15th century and at this point they were subdivided into 40 paise.
The rupee was, however, not issued in the form of bank notes until the very late 18th century. From 1845 onwards, the Indian rupee gradually replaced all the other rupees that had been in circulation
In the 19th century the rupee experienced quite a downturn in its fortunes, because it was a silver coin and suddenly the international market was flooded with silver, after it was discovered in vast amounts both in the United States and indeed, throughout Europe.
By the end of the 19th century the rupee was pegged to the British pound. Initially this meant that the rupee increased in value but all this was to change in 1927, when its value was reduced.
India gained independence from Britain in 1947 and at this point the Indian rupee became the official currency and the monetary system was unified throughout India.
The currency was not a decimal system, until the year 1957 when the rupee was changed so that it could be divided into 100 'naye paise' or in other words, new paise.
Throughout its time the Indian rupee has also been used in other countries, including Bahrain, Malaysia and Kuwait. Currently it can also be used in certain parts of Nepal. Historically it was seen as quite a major currency.
Acquiring Indian rupees
Getting hold of the Indian rupees is not the easiest job in the world. In the bigger cities there are some ATM machines where you can withdraw rupees, but these will have a maximum amount that you can withdraw. This could be anything from 4,000 to 20,000 rupees. However, you should know that SBI (State Bank of India) ATMs do not accept foreign cards. As a result you will have to look around to try and find an ATM that will accept your card. Sometimes, this can be quite a frustrating process. So if you do intend to travel to India, it may well be worth taking with you two cards, each of which is issued by two different providers. This gives you a greater opportunity of finding an ATM that will actually accept your card.
If you try to change money before you go to India, you may find that the exchange rate is exceptionally poor. In addition it is actually illegal to import rupees into India. This may present you with difficulties upon arrival, if you happen upon a very officious official.
You will find that you can exchange money at an exchange centres near all airports in India or you can exchange money at banks.
An alternative option is to take travellers cheques, which you can then cash at a bank or at one of the money exchange centres.
You will need some cash for day-to-day purchases, although you can use credit cards at department stores and at some of the larger restaurants. But the reality is, that if you are in a small shop or store, it is very likely that credit cards will not be accepted so you will need to pay in cash.
India and Money
India is exceptionally good value for money and you will find it considerably cheaper than anywhere on mainland Europe and almost throughout the world. But, if you like a little bit of luxury, you can also find this in India and again it is quite a reasonable price for the kind of luxury that you can be afforded in some of the five star hotels.
When you are in India you will find that most of the street traders expect you to haggle or negotiate with them and this can also be the case in some of the smaller stores. In the larger department types stores, haggling or trying to negotiate a price is considered quite rude. The haggling process can be quite tortuous, but you should soon get the hang of it.
Sometimes foreigners are charged a special foreign rate for items and if you are aware of this, then you can sometimes negotiate the price downwards.
India does have its fair share of people who feel that Westerners are quite wealthy and as a result they ought to give some of their money to them.
Sometimes people will approach and befriend you and then suggest that you really should have a look in their father's shop or their brother's shop etc. The reality is that the prices you will pay here are very likely to be about twice the price that you would expect to pay in a standard shop.
One of the things that often strikes people when they first visit India, is the levels of poverty; how many people are begging in the street and how many people will literally beg you for money. This can be difficult for many Westerners.
Whilst everything seems cheaper in India there are some good buys that you may wish to consider. One thing that is well worth thinking about is buying some original Indian carvings. Almost wherever you are in India, you can find the most intricately carved plates, bowls, boxes, trinket boxes and even furniture, as well as art works. Bear in mind though that whatever you buy, you will need to bring it home and so be careful of any weight limits.
There are some beautiful marble carvings which you can also buy and they represent exceptionally good value for money and are generally very well made. The only difficulty is that the bigger the carving you get, the heavier it will be.
Jewellery, particularly silver jewellery, can also be a very good buy in India.
Clothes can be bought, but these tend to be quite Indian in design and style and whilst in the great in India, they can look a little out of place once you get back home.
Looking after your rupees
India is actually quite is safe country to visit. There are incidents of petty crimes such as pickpocketing as well as people trying to shortchange you. However, there are practically no incidents of any violent crime or even street robbery.
One thing you do need to be careful to do, when out and about is to make sure that you agree beforehand what something will cost, before you agree to take a service from somebody. For example if you are going to have a rid in one of the auto rickshaws, agree how much it will cost before you get in.
You should also be wary of people who offer to act as guides for you or who may approach you and offer you some kind of experience or place to visit; usually there is some kind of scam going on and it is better not to be too trusting.
Out and about in India
India is just so big, that it is very difficult to sum it up in only a few short paragraphs. To put in into context, this is actually the second most populated country in the world and it is the 7th biggest country in the entire world. It has huge regional differences in terms of climate, geography as well as culture and ethnicity.
So there is no one single Indian identity or Indian culture, because it really does depend on where you are in the country and with whom you may be interacting.
You will find that there are people of different religions and cultures living cheek by jowl in different parts of India and this makes it a very diverse country and one where you can experience all kinds of cuisines and religious buildings as well as different cultures. These are all different aspects of this one country, which is actually home to over a billion people.
You can journey to the north of India along the path of the Himalayan Mountains, or see the beautiful and historic temples that are such a feature of southern India. There are basically six different regions but they are all very different from each other and so it is impossible to draw parallels between them.
Really, unless you have several months to really explore India, you will only get a tiny taste of this very special country. It will simply not be possible to see it all, or even to get to know it in less than a few months.
If your time is more limited than this, then it may be a good idea to simply research the Indian sights, such as the Taj Mahal, that you would like to visit and create a trip that includes all your desired sights. Otherwise you'll simply miss out on seeing the things you really want to.
Overview
Quite simply, India it is different. It is unlike any other country and indeed even within India: you will find the most enormous changes between the different regions. You will also find people who are exceptionally wealthy, living only a stone's throw away from people who will spend their whole lives in desperate poverty. It is a place where people work hard and where the sun can be very strong and the heat can seem almost relentless: but it is also a place that has the most amazing people and cultures. It is quite simply, a place that you will never forget.
Culturally it is quite an eye-opener for people in the West, but ultimately this is the whole purpose of travel and travelling. You really do get to see just how differently almost one billion people live. It is also a chance to see a country that is experiencing dramatic and rapid changes, so visit, before it changes too much.
Useful Links
http://en.wikipedia.org/wiki/Indian_rupee
Comment
India seems like a great place to visit if you have your wits about you. But then, that pretty much describes a lot of places on earth doesn’t it? I think I might forget about trying to make some cash on the Forex markets and focus on saving it up for a holiday instead.
India might be somewhere completely different from anywhere I have been before. I think the history of the country is also quite attractive, so you could look forward to learning a lot from there. There are plenty of sights to see too, and I bet I’d spend a lot!
— JamieK · Jul 22, 12:46 PM · #
I Would like know how many rupees in a pound
every day the rate chainges, how can i get
every day rate informed to me.so can send some money to india when the rate is right for me.
Kind Regards
I J Singh
— inder jit singh · Oct 13, 07:36 PM · #