Currency profile
Indian Rupee (INR)
The Indian rupee (INR) is the official currency of India, divided into 100 paise. It floats under a managed regime overseen by the Reserve Bank of India, and India is the world’s largest recipient of remittances.
The Indian Rupee today
Mid-market · updating…
The rupee floats under a managed regime — the market sets the rate, and the Reserve Bank of India intervenes to smooth volatility.
Exchange-rate regime
Managed float. The rupee is market-determined but managed: the Reserve Bank of India intervenes to limit sharp swings rather than holding a fixed rate.
The issuing central bank
The Reserve Bank of India, established in 1935, issues the rupee and manages the exchange rate.
History
- 1935The Reserve Bank of India was established as the country’s central bank and note-issuing authority.
- 1957The rupee was decimalised — one rupee became 100 paise.
- 1993India moved to a market-determined (managed-float) exchange rate.
- 2023The 2,000-rupee note (introduced 2016) was withdrawn from circulation.
Coins and banknotes
One rupee is divided into 100 paise. Coins: 1, 2, 5, 10 and 20 rupees (paise coins have largely fallen out of use). Banknotes: 10, 20, 50, 100, 200 and 500 rupees, issued by the Reserve Bank of India.
Popular Indian Rupee pairs
What moves it
- The rupee is a managed float; Reserve Bank of India policy and intervention shape its path.
- Because so much of its value is a dollar story, moves in the US dollar feed straight into rupee rates.
- India receives the world’s largest remittance inflows (World Bank).
Structural facts reviewed 2 August 2026 · reviewed quarterly. Sources: Reserve Bank of India · World Bank. Live rates are mid-market — see our Methodology and Editorial Policy.