INRIndian RupeeIndian Rupee (INR)
The Indian rupee is the official currency of India. The Reserve Bank of India issues most banknotes, while the Government of India is responsible for one-rupee notes and coins. INR is the ISO code used for the currency in international payments and reference-rate data. The rupee symbol identifies domestic amounts, and one rupee is divided into 100 paise.
- ISO code
- INR
- Symbol
- INR
- Region
- Asia Pacific
- Currency type
- Fiat currency
- Exchange system
- INR has a market-determined exchange rate. The Reserve Bank of India may intervene to contain excessive volatility and preserve orderly market conditions without targeting a fixed parity.
- Last reviewed
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Quick facts
INR at a glance
Currency profile
How INR works
The Indian rupee is the official currency of India. The Reserve Bank of India issues most banknotes, while the Government of India is responsible for one-rupee notes and coins. INR is the ISO code used for the currency in international payments and reference-rate data. The rupee symbol identifies domestic amounts, and one rupee is divided into 100 paise.
INR conversions are relevant to travel, education, family transfers, digital services and commercial payments connected with India. A CurrencyHub result uses a dated provider reference rate and does not establish whether a particular cross-border service is available or what it will charge. Payment channels can also be subject to documentation and regulatory requirements. Keeping INR visible with the currency name prevents confusion with other rupee currencies used elsewhere in South Asia and the Indian Ocean region.
- INR is divided into 100 paise and uses the rupee symbol in domestic display.
- A market-determined exchange rate has operated since the unification of India's dual exchange-rate system in March 1993.
Context
Why this currency matters
INR represents one of the world's largest national economies and payment markets. It is frequently compared with USD, GBP, EUR, SGD and Gulf currencies in trade, travel and family-finance contexts. The same rupee name is used by several other currencies, so INR should remain visible in every result and exported record. Historical comparisons also need the actual provider publication date, particularly when a requested date falls on a weekend or another non-publication day.
Monetary framework
Exchange arrangement
INR has a market-determined exchange rate. The Reserve Bank of India may intervene to contain excessive volatility and preserve orderly market conditions without targeting a fixed parity.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for INR
Reserve Bank of India began operations
The Reserve Bank began operating as India's central bank and later assumed the central banknote-issue role.
Reserve Bank of India - evolution of India's exchange-rate regimeDecimal currency introduced
India divided the rupee into 100 naye paise, later shortened to paise, replacing the older anna-based subdivision.
Reserve Bank of India - evolution of India's exchange-rate regimeUnified market-determined rate established
The dual LERMS rates were unified and a market-determined exchange-rate system took effect on March 1, 1993.
Reserve Bank of India - evolution of India's exchange-rate regime
Usage and economy
How INR is used
- Prices, wages, taxes and payments throughout India.
- Trade, education, travel and family transfers involving India, South Asia and the Gulf.
Country currency guides
Banknotes and coins
INR currency units
The Reserve Bank of India documents the banknote denominations and series issued for INR.
India's rupee system includes government-issued coins denominated in rupees and paise.
One Indian Rupee unit is recorded with 2 decimal places and uses Paisa as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
Currency topics
FAQ
INR questions
Why is INR important in South Asia?
INR is the currency of the region's largest national economy and is widely encountered in regional trade, travel, education and family-payment records.
Who issues Indian rupee banknotes?
The Reserve Bank of India issues rupee banknotes other than the one-rupee note, which is issued by the Government of India.
Is the Indian rupee fixed to the U.S. dollar?
No. India has used a market-determined exchange-rate regime since March 1993, although the RBI can intervene to address disorderly conditions.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.