Five symbols were shortlisted, and the Cabinet selected the definitive symbol created by D. During the 2010 Union budget of India, Finance Minister Pranab Mukherjee mentioned that the proposed symbol would reflect and capture the Indian ethos and culture. On March 5, 2009, the Government of India announced a contest to create a symbol for the rupee. The rupee is called টাকা (Taka) in Bengali, টকা (tôka) in Assamese and ଟଙ୍କା (Tanka) in Odia and is written as such on Indian banknotes. However, in West Bengal, Tripura, Mizoram, Odisha, and Assam, the Indian rupee is officially known by names derived from the Sanskrit word टङ्क (Tanka) which means money. Many Indian languages use this root word, for example, రూపాయి (rūpāyi) in Telugu, ரூபாய் (rūbāi) in Tamil, रुपया (rupayā) in Hindi, રૂપિયો (rupiyo) in Gujarati, ರೂಪಾಯಿ (rūpāyi) in Kannada and Tulu, രൂപ (rūpā) in Malayalam and रुपये (rupaye) in Marathi. The word "rupee" originates from the Sanskrit word रौप्य(raupya) meaning "silver" or "made of silver". Until then, the abbreviation "Rs" (or "Re") was used. The current abbreviation "INR" started in July 2010. The design was presented to the public by the government of India on 15 July 2010. The Indian rupee symbol ( ) is an amalgam of both the Devanagari consonant " र" (Ra) and the Latin letter "R" without the vertical bar. The bank notes are available in values of 1, 2, 5, 10, 20, 50, 100, 200, 5 rupees. The coins have values and of 5, 10, 20, 25 and 50 paise, as well as 1, 2, 5 and 10 rupees. The modern rupee is sub-divided into 100 paise (singular paisa). During the past 15 years, the value has ranged from $1 USD = 35–65 INR or 1 euro = 44–69 INR (see below: Convertibility).
The currency is issued and controlled by the Reserve Bank of India. The Indian rupee ( Hindi: रुपया) (sign: code: INR) is the official currency of the Republic of India. Nepal (in towns of Nepalese side of Nepal- India border, alongside the Nepalese Rupee) Bhutan (alongside the Bhutanese Ngultrum)
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