rupee


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rupee

the standard monetary unit of India, Nepal, and Pakistan (divided into 100 paise), Sri Lanka, Mauritius, and the Seychelles (divided into 100 cents)
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

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.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Mediums averaging 414.40 rupees for July 2019 have recorded a decrease of 16.34 rupees vis-a-vis 430.74 rupees of June 2019.
'The central bank may come into action again when rupee advances its march towards around Rs162-165,' he said, recalling the central bank came into action about two weeks ago when the rupee lost to around Rs165 in the inter-bank market.
The rupee has been one of the worst performing currencies in Asia.
With the latest drop of Rs1.1 on Friday, the rupee weakened by a total of 1.3 against the dollar in the open market in the past four days, according to forex.pk.
By the 20th of September this year, the rupee further plunged to Rs.
Devaluation of rupee against all major international currencies is the reflection of weakness of the economy.
"Rupee has depreciated very significantly since the beginning of the year.
Meanwhile interest costs rose 12 percent to 391.5 billion rupees making it one of the fastest growing items on the budget.
The decision by the central bank to provide funds for oil payments kept the rupee firm against the dollar
Remittance volumes to India have certainly received a boost owing to the weakening of the Indian Rupee and we are likely to see a similar trend over the next few days," Giriyan said.
"The main reason for today's fall was that State Bank of Pakistan had left rupee to market forces.
He said: "The fall in the rupee means a lot to Indian investors, because unlike those remitting for family maintenance, they tend to be more opportunistic in their approach.