What is the official currency of India?

Wikipedia The Indian rupee is the official currency of India. The rupee is subdivided into 100 paise, though as of 2019, coins of denomination of 1 rupee is the lowest value in use. The issuance of the currency is controlled by the Reserve Bank of India.

What is the currency code for Indian rupees?

The currency code for Rupees is INR, and the currency symbol is ₹. Below, you'll find Indian Rupee rates and a currency converter. The central bank in India is called the Reserve Bank of India. The INR is a managed float, allowing the market to determine the exchange rate.

Is Indian rupee a controlled exchange rate?

However, the Reserve Bank of India trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate. This is sometimes called a "managed float".