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The Indian rupee (indication: ₹; code: INR), is the official currency on the Republic of India. The rupee is subdivided into a hundred paise (singular paisa), however as of 2011, 25 paise is not any more a lawful tender. The issuance from the currency is controlled with the Reserve Financial institution of India. The Reserve Financial institution manages currency in India and derives its position in currency administration on The idea of the Reserve Financial institution of India Act, 1934. The rupee is named once the silver coin, rupiya, very first issued by Sultan Sher Shah Suri inside the 16th century and afterwards ongoing because of the Mughal Empire. In 2010, a different image '₹', was officially adopted. It had been derived from the combination in the Devanagari consonant "र" (ra) and also the Latin cash letter "R" with out its vertical bar (just like the R rotunda).
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