Saturday, 17 October 2015

The story of Indian currency

           The First signs of Indian currency was found in dwaraka (which according to mahabaratha is where Lord Krishna ruled), these coins called as mudras carbon date to 5 th century bc.

                Then there has been records of Indo Greek Coins which bear the architecture of Greeks, But bears the symbol of Indians.These have a charecteristic square shape, with either potriats of authority, or animals like bull.



                       Then there are records of coins being used by  Mauriya dynasty from 300 bc, these coins usually contain a mauriyan king with a bow, the coins were considered to be one of the first record of preserved fine Indian art, as they have multiple varieties and have been crafted to very incredible detail. 
This was also the time when the word rupiah is considered to have been widely used, the word is derived from either sanscrit or dravidian word Rupa meaning a silver coin.
                 The word had been mentioned by Chanakya the minister of Chandra Guptha Mauria in his book, he also mentions that there were, gold, silver, copper and lead coins and they all have different names, gold coins (Suvarnarupa), copper coins (Tamararupa) and lead coins (Sisarupa).
                  During the middle ages the Rajputian coins were used widely they usually contained an image of the goddess Lakshmi with four hands, unlike the Maurian's which had only two. (600-1200 AD).


                       The Alf coins by the muhal emperor Jalal uh din Muhammad fondly known as Akbar bears the period and the dynasty to mark history. (In 16 centuryAD)


                       The coins minted during the period of Marathi King Chatrapathi Shivaji

               The first paper currencies were introduced by the British, during the middle of 18 th century by the bank of Hindostan.


                      During the post independence period, each rupee was subdivided in to 16 annas, 64 pisa, 192 pies.


                         After Independence particularly 1957 each rupee was divided in to 100 naye paisa, and naye was stopped from use after 1964. Then rupee fought two major inflation in 1966 and 1991, but survived all that and still seems to be going strong. That is how rupee got its name fame, shape, and everything, it's also the official currency in Pakistan and Sri Lanka, not Indian rupees per say but rupees ( you get the point don't you?).



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