The official currency of India, issued under the authority of the Reserve Bank of India, is the Indian rupee.
The rupee is subdivided into 100 paise, although paise coins are rarely used in everyday transactions because of inflation and rounding. Its international currency code is INR, and its symbol is ₹, adopted by the Indian government in 2010.
The Reserve Bank of India has the sole right to issue banknotes in India, except for the one-rupee note, which is issued by the Government of India. Coins are also issued under government authority. This division is a frequent source of confusion when people describe the RBI as issuing every form of Indian money.
The word “rupee” comes from the Sanskrit word rūpya, meaning shaped or stamped silver. Modern rupee notes feature Mahatma Gandhi on the front and carry denominations in several Indian languages. The currency is used across India and is one of the most traded currencies in South Asia.