What is ruppee?

Rupee is the official currency of India, Pakistan, Sri Lanka, Nepal, Seychelles, and several other countries in South Asia. The symbol for the Indian Rupee is ₹ and for the Pakistani Rupee is ₨. Each country has its own monetary authority responsible for issuing and regulating their respective currencies.

The Indian Rupee is issued and regulated by the Reserve Bank of India, while the Pakistani Rupee is issued and regulated by the State Bank of Pakistan. The currency is subdivided into 100 smaller units called paise in India and paisa in Pakistan.

The value of the Rupee fluctuates against other currencies in the foreign exchange market. Factors such as economic stability, inflation rates, political events, and market speculation can affect the exchange rate of the Rupee.

Rupee banknotes and coins come in various denominations and feature important historical figures, landmarks, and cultural symbols. The use of mobile wallets, digital payment systems, and online banking has made it easier for people to carry out transactions using Rupees in an increasingly cashless society.

Overall, the Rupee plays a vital role in the economies of South Asian countries and is an integral part of daily transactions and financial activities in the region.