Indian Rupee History

Indian Rupee History

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On 8 November 2016, the Reserve Bank of India (RBI) announced the issuance of new ₹500 and ₹2,000 banknotes in new seires. The new ₹2,000 banknote has a magenta base colour, with a portrait of Mahatma Gandhi as well as the Ashoka Pillar Emblem on the front. The denomination also has a motif of the Mars Orbiter Mission (MOM) on the back, depicting the country's first venture into interplanetary space. The new ₹500 banknote has a stone grey base colour with an image of the Red Fort along with the Indian flag printed on the back. Both the banknotes also have the Swachh Bharat Abhiyan logo printed on the back. The banknote denominations of ₹200, ₹100 and ₹50 have also been introduced in the new Mahatma Gandhi New Series intended to replace all banknotes of the previous Mahatma Gandhi Series. On 13 June 2017, RBI introduced new ₹50 notes, but the old ones continue being legal tender. The design is similar to the current notes in the Mahatma Gandhi (New) Series, except they will come with an inset 'A'.

The history of the Rupee traces back to the Ancient India in circa 6th century BC. Ancient India was the earliest issuers of coins in the world, [2] along with the Chinese wen and Lydian staters .

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