The Indian rupees (Devanagari: रुपया) (sign: ₹; code: INR) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.
The modern rupee is theoretically subdivided into 100 paise (singular paisa) though this division is purely symbolic; as of 30 June 2011, 50 paise will be the minimum coin accepted in the markets as all denominations below it will cease to be legal currency. Bank notes are available in nominal values of 1, 2, 5, 10, 20, 50, 100, 500 and 1000 rupees.
Coins of the rupee have nominal values of 1, 2, 5, 10, 20, 25 and 50 paise as well as 1, 2, 5 and 10 rupees.
The Indian rupee symbol is derived from the Devanagari consonant "र" (Ra) with an added horizontal bar. It is also derived from the Latin consonant "R" without the vertical line, and with two horizontal bars added, (similar in comparison with Yen and Euro symbols).
The first series of coins with the rupee symbol was launched on 8 July 2011.