rupee


Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia.

rupee

the standard monetary unit of India, Nepal, and Pakistan (divided into 100 paise), Sri Lanka, Mauritius, and the Seychelles (divided into 100 cents)

Rupee

 

the monetary unit of India, Mauritius, the Republic of the Maldives, Nepal, Pakistan, the Seychelles, Sikkim, and Sri Lanka. In India, the rupee was first used at the end of the 16th century; it was divided into 16 annas (64 paise, or 192 pies). With the transition to a decimal system on Apr. 1, 1957, the rupee was divided into 100 paise. According to the exchange rate set on Jan. 1, 1975, by the Gosbank (State Bank) of the USSR, 100 Indian rupees equaled 8.88 rubles.

In Pakistan, the rupee was first used in 1948. Since Jan. 1, 1961, it has been divided into 100 paise. According to the exchange rates set on Jan. 1, 1975, by the Gosbank, 100 Pakistani rupees equalled 7.54 rubles.

In Nepal, the rupee came into use in October 1960. It is divided into 100 paise. According to the exchange rate set on Jan. 1, 1975, by the Gosbank, 100 Nepali rupees equalled 7.07 rubles.

In Sri Lanka, the rupee is divided into 100 cents. With the exchange rate set on Jan. 1, 1975, by the Gosbank, 100 rupees of Sri Lanka equaled 13.84 rubles.

In Mauritius, the rupee was first used at the end of the 19th century; it is divided into 100 cents. In the Republic of the Maldives, the rupee came into use at the beginning of the 20th century. This rupee is also divided into 100 cents (or larees). In the Seychelles, the rupee is divided into 100 cents.

References in periodicals archive ?
Following intervention by the State Bank, the rupee traded at Rs110.
In the open market, the dollar continued to show strength against the rupee last week.
The LCCI former president said that rapid devaluation of rupee will damage the economic cycle of the country besides scaring off international investors therefore State Bank of Pakistan should control this dilemma without wasting a single moment.
He said Pakistan's imports were much higher compared to its exports and rupee depreciation would thus bring more problems to the overall economy.
Depreciation of rupee is likely to have repercussions for the government's total debt, which would automatically increase because the public debt is presented in the rupee terms.
I think the rupee might move around 6-7 per cent, allowing it to reach a high of 112 against the dollar.
As people were increasingly melting silver one rupee coins during World War I, the number of coins were reducing from the market.
He said although the rupee is on a depreciation mode since last week, it may not see any further fall.
What is surprising is, when one looks closer at the figures, despite the lack of enthusiasm of New Delhi - and the opposite sentiment in Moscow - the rupee has become nearly as internationalised as the rouble in recent times.
Rupee options contracts launched by Indian exchanges have proven to be highly successful, which augurs well for the success of the DGCX Rupee options contract.
The intrinsic value of rupee comes from its purchasing power.
The falling rupee has also had a negative impact on the cost of oil, resulting in an increase in airfares.