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Indian Rupee: An International Currency

Posted by Amit Bhandari on

Indian Rupee: An International Currency

A century back, the Indian rupee was an important regional and international currency – due to India’s large economy and status as a trade hub. The uniform British India Rupee – first introduced in 1835, was a silver coin (0.917 or 91.7%) and 11.66 grams in weight. From 1835 to 1938, the names of the rulers and the designs kept changing, but the two basic factors – weight and purity, remained constant. For ease of trade, many other smaller economies of the region adopted a currency that mirrored the Indian rupee. Thus, Burma (1853), Portuguese Empire (1881), Mombasa (1888), German...

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