INDIAN RUPEES COINS ..... RECENTLY LAUNCED BY RBI

Coins in India are issued in denominations of 50 paise, one rupee, two rupees, five rupees, and ten rupees. A paise is 1/100th of a rupee. Coins worth 50 paise are called small coins, while coins equal or above one rupee are known as rupee coins.

The Indian currency is called the Indian Rupee (INR). One Rupee consists of 100 Paise. The symbol of the Indian Rupee is ₹. The design resembles both the Devanagari letter "₹" (ra) and the Latin capital letter "R", with a double horizontal line at the top.

Currency refers to a medium of exchange for the supply of goods and services. In a nutshell, it is money in paper or coins that are usually issued by a government and mostly accepted as a payment mode at its face value.

Currency is the main medium of exchange in the modern world that replaced the barter system long ago as a means of trading goods and services.

Currency in any form is as old as at least 3,000 years. Money, generally in the form of coins, proved to be critical for trade facilitation across the globe.

In the 21st century, the virtual currency is a new form of currency which has entered the vocabulary. Virtual currencies, traded and stored in an electronic form, such as the bitcoins or the litcoins, do not have physical existence or government support.

The Indian rupee, depicted as ₹ and having global currency code as INR, is the official currency of India. One rupee can be partitioned into 100 paise. As of 2019, 1 rupee coin is the lowest value in use. The currency issue and its circulation are monitored and controlled by the Reserve Bank of India. The Central Bank manages currency in India and assumes its role in currency management under the Reserve Bank of India Act, 1934.

In 2010, a new rupee sign (₹) was formally adopted replacing the sign 'Rs' from the 8th of July 2011. The parallel lines that run at the top allude to the tricolour Indian flag and also depict an equality sign that expresses the nation's desire to reduce economic disparity.

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