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The rupiah ( symbol: Rp; currency code: IDR) is the official currency of Indonesia, issued and controlled by Bank Indonesia. Its name is derived from the Sanskrit word for silver, rupyakam ( रूप्यकम् ). [4] Sometimes, Indonesians also informally use the word perak ("silver" in Indonesian) in referring to rupiah in coins.
The basic unit of currency was the Indian rupee, which was itself divided into annas (16 annas to a rupee) and pice (the old spelling of paisa – 64 pice to a rupee). The lowest-denomination Indian coins, the half-pice (128 to a rupee) and the pie (192 to a rupee) were officially demonetized in 1947; while both denominations had continued to ...
The five countries with the largest foreign exchange reserves almost all have reserves of at least 500 billion USD and higher and have maintained such an amount for at least a week. At present there are only six countries whose reserves are at such a figure; this includes China, Japan, Switzerland, India, Russia and Taiwan.
Foreign exchange rate. The Pakistani rupee depreciated against the US dollar until around the start of the 21st century, when Pakistan's large current-account surplus pushed the value of the rupee up versus the dollar. Pakistan's central bank then stabilized by lowering interest rates and buying dollars, in order to preserve the country's ...
By 1991, India still had a fixed exchange rate system, where the rupee was pegged to the value of a basket of currencies of major trading partners. India started having balance of payments problems in 1985, and by the end of 1990, the state of India was in a serious economic crisis exacerbated by the Gulf War and the accompanying oil price spike.
The roupie or rupee was the currency of French India. It was equal to the Indian rupee issued by the Indian government. One rupee was worth 2.40 francs-or. Until 1871 it was issued as coins with the roupie divided into 8 fanons, each of 3 doudous or 20 cash. From 1891, banknotes were issued by the Banque de l'Indochine, which circulated ...
In 1892, the Government of India announced its intent to "close Indian mints to silver" and, in 1893, it brought this policy into force. The committee recommended that the official Indian rupee be based on the gold standard and the official exchange rate of the rupee be established at 15 rupees per British sovereign , or 1 shilling and 4 pence ...
The Government of India constitutionally known as the Union Government and also called the Central Government, is the national authority of the Republic of India, a federal republic located in South Asia, consisting of 28 states and eight union territories.
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