The Indian Rupee is one of the oldest currencies in the world, with a fascinating lineage that mirrors the complex history of the subcontinent.
The Origin: Sher Shah Suri
The term Rupiya is derived from the Sanskrit word Rupya meaning wrought silver. The modern Rupee direct ancestor was introduced by Sher Shah Suri in 1540, issuing a silver coin weighing 178 grains that became the standard for centuries.
Mughal and Colonial Eras
The Mughal Empire continued the silver Rupee standard, issuing highly artistic calligraphy-based coins. When the British East India Company gained power they initially minted coins imitating local styles before imposing their own uniform coinage in 1835.
Decimalization
After independence India shifted to the decimal system in 1957, dividing the Rupee into 100 Naye Paise. The Naye was dropped in 1964, giving us the modern Paisa and Rupee structure used today.