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India - 5 Indian Rupees - P-80r - Foreign Paper Money

Inv# FM1589   Foreign Paper Money
India - 5 Indian Rupees - P-80r - Foreign Paper Money
Country: India
Years: ND (1975)

5 Rupees, P-80r. The Indian rupee (symbol ; code: INR) is the official currency in the Republic of India. The rupee is subdivided into 100 paise (singular: paisa). The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.

The immediate precursor of the rupee is the rūpiya—the silver coin weighing 178 grains minted in northern India, first by Sher Shah Suri during his brief rule between 1540 and 1545, and later adopted and standardized by the Mughal Empire. The weight remained unchanged well beyond the end of the Mughals until the 20th century. Though Pāṇini mentions rūpya (रूप्य), it is unclear whether he was referring to coinage. Arthashastra, written by Chanakya, prime minister to the first Maurya emperor Chandragupta Maurya (c. 340–290 BCE), mentions silver coins as rūpyarūpa. Other types of coins, including gold coins (suvarṇarūpa), copper coins (tāmrarūpa), and lead coins (sīsarūpa), are also mentioned. Read more at https://en.wikipedia.org/wiki/Indian_rupee

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Condition: C.U.
Item ordered may not be exact piece shown. All original and authentic.
Price: $5.00