Which is the oldest coin in India

Indian coins

The Indian rupee

 

The Indian rupee is the currency unit of India, which is issued by the Indian Central Bank, the Reserve Bank of India and the Government of India.

The currency is divided into "paises". Today's coins have a face value of 5, 10, 20, 50, 100, 500 and 1000 rupees. Bills with a face value of 1 and 2 rupees are also issued. However, these are only issued in small numbers and are therefore difficult to obtain. The import and export of the Indian currency is generally prohibited. However, people resident in India are allowed to import and export a maximum of INR 5000, -. Both the payment and the return of damaged banknotes are problematic. It is common practice to bundle the banknotes and hold them together with staples. This creates large holes in the notes and the bank notes are difficult to get rid of.

The exchange rate since 2015 has been between 65 rupees and 80 rupees for one euro.

The Reserve Bank of India is considered to be the main manager of Indian currency. In cooperation with the government, it coordinates the denomination of the currency, the designs of the various banknotes and the security features on the currency. Overall, the entire organization of the printing volumes and the return of banknotes is the responsibility of the reserve bank and is bound by the currency laws of India. The minting of the coins, on the other hand, is the responsibility of the government. The government is therefore responsible for making decisions about drafts and embossing. The amount of coins to be minted is also determined in principle by the government.

 

Coins of ancient India

India has one of the oldest and most varied developments in coinage. The coins often provided more information about the country than other historical legacies. Thus, the coins made it possible to discover clues to many kings and even entire dynasties, from which no other clues could be found.

The first cultures that introduced a uniform coin system emerged in the geographical area of ‚Äč‚Äčtoday's India. This probably happened between the 4th and 6th centuries BC.

There have been many changes in both the name, value and appearance of the coins since the coins were first introduced. The appearance of the coins always depended on the ruling dynasty. According to this, every ruler who conquered India or one of the provinces had an influence on the design of the coins.

 

The first coins of India

The first coins of India were minted in Madhyadesha at the end of the 6th century BC. These coins are usually silver flakes or lumps of irregular shape, but with a specific weight.

When India came under Indo-Greek influence, coin design was again heavily influenced. The coins showed the respective rulers and gods of Greek mythology.

The Gupta coins of the 4th to 6th centuries followed the tradition of the Kushan and Indo-Greek coins. Accordingly, the king was depicted here on the obverse and a god on the reverse. Gupta's gold coins often show scenes of sacrifice or socio-political events. Gods were also depicted on the back. The silver coins showed the image of the ruler with the name of the king.

About a hundred years after the death of the Prophet Mohammed, there were attacks by Arabs. The religion of Islam should be spread by force. The Muslims set themselves apart from the local people, but failed to oust Hinduism. At that time, the silver tanka was the official currency.

The introduction of the Indian rupee goes back to the ruler Afghan Sher Suri (1540-1545). Since there were different coins in the different provinces up to this point, he tried to create a centralized administrative structure by unifying the currency system. This is how the "Rupya" silver coin was introduced. This is considered to be the predecessor of the modern Indian rupee. The coin was only given the name "rupee" in 1612.

At first the rupee was only available in the form of coins. In the 18th century, however, the first paper rups were introduced. However, the rupee was not the only currency in India. There was another currency under British rule, the fanam.

India gained independence in 1947. Three years later, the Indian rupee was first issued as the currency of the new republic. This consisted of 16 Anna, which corresponded to 64 Paise. In addition, the appearance of the currency has been changed, back to the traditional symbols. The production material was also replaced by bronze, nickel or copper.

 

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