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Currencyppt 131214193626 Phpapp02
Currencyppt 131214193626 Phpapp02
Currencyppt 131214193626 Phpapp02
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Early currency
Currency evolved from two basic innovations, both of which had
occurred by 2000 BC. Originally money was a form of receipt, representing
grain stored in temple granaries in Sumer in ancient Mesopotamia, then
Ancient Egypt.
Coinage
These factors led to the metal itself being the store of value: first
silver, then both silver and gold, and at one point also bronze. Now we
have copper coins and other non-precious metals as coins.
Paper money
It began as a means for merchants to exchange heavy coinage for
receipts of deposit issued as promissory notes by wholesalers' shops.
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Currency use is based on the concept of lex monetae; that a
sovereign state decides which currency it shall use.
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U.S Dollar European Union
U.K Pound
Japanese yen
Australian Dollar
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The Indian rupee is the official currency of the Republic of
India.
The first series of coins with the rupee symbol was
launched on 8 July 2011.
The Indian Rupee sign (INR) is the currency sign: INR for
the Indian Rupee, the official currency of India. Designed
by D. Udaya Kumar, it was presented to the public by the
Government of India on 15 July 2010.
Before its adoption, the most commonly used symbols for
the rupee were Rs, Re or, if the text was in an Indian
language, an appropriate abbreviation in that language
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On 5 March 2009, the Indian government announced a
contest to create a sign for the Indian rupee. During the 2010
Union Budget, Finance Minister Pranab Mukherjee said that
the proposed sign should reflect and capture the Indian ethos
and culture. The new sign is a combination of the Devanagari
letter " " (ra) and the Latin capital letter "R" without its
vertical bar (similar to the R rotunda).
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Historically, the Hindi word rūpiya is derived form Sanskrit
word rūpya, which means "wrought silver, a coin of
silver“.
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The three Presidencies established by the British East India
Company (Bengal, Bombay and Madras) each issued their
own coinages until 1835.
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Indian Banknotes
The design of banknotes is approved by the central
government, on the recommendation of the central board
of the Reserve Bank of India.
The current series of banknotes (which began in 1996) is
known as the Mahatma Gandhi series.
Banknotes are issued in the denominations of 5, 10, 20, 50,
100, 500 and 1000.
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Exchanges for Currency
Trading
Exchanges engaged in currency futures in India
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Convertibility & Exchange rates
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