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GBP to INR Exchange Rate

Currency Information on Indian Rupee - INR — Indian rupee - ₹. The foreign exchange currency code for INR represents the Indian Rupee exchange rate.

Currency Exchange Rates for Indian Rupee. The Republic of India’s official currency is issued by the Reserve Bank of India. It is named after the 16th Century Rupiya, issued by Shur Shah Suri.

The symbol, derived from the Devanagari consonant ‘Ra’ was officially adopted in 2010 and first appeared on coins in 2011. The name of the currency is listed in 15 languages on the back of banknotes and in English and Hindu on the front.

Currency Information on INR. Coins in circulation are available in denominations of 1, 2, 5 and 10 rupees, whilst banknotes are available in denominations of 1, 5, 10, 20, 50, 100, 500, 1,000 rupees.

Indian Rupee had a mysterious past including a long history exploration and struggle. From the first Indian coin - called Puranas minted in 6th century, Indian currency had gone through several evolution. Paper money was introduced in 18th century. After 1857 revolt British made Rupee as the official currency of India. After independence, in 1950 , the first coinage system "anna system" was introduced. 1955 Indian coinage Amendment Act enforced decimal series and then rupee was devided into 100 paisa.

Coins and Notes.

At present Indian denominations that are issued by Reserve bank of India are Rs 5, Rs 10, Rs 20, Rs 100, Rs 500 and Rs 1000. The printing of the Rs 1and Rs 2 have been discontinued as they have been coinised but the earlier notes are still in circulation.

Coins are available in denomination of 10 paisa, 20 paisa, 50 paisa, one rupee, two rupees and five rupees. 

Restrictions and Substitute currency

With the demonetization of attempt of Modi Government from last year November , Indian currency has gone through certain changes. Government had issued new Rs 500 and Rs 2000 notes and had withdrew old Rs 500 and Rs 1000 denominations to curb terrorism and corruption.

People could exchange the old currency at any of the bank branch and could deposit any amount at branch unless one has not completed the Know Your Customer verification and thereby imposing a limit of Rs 50,000

Substitute Currencies

Replacement of all the old currency is expected to take few months and 83% of the currency has been remonetized from a latest press release. Rs 2000 and Rs 500 denomination has already been introduced and the new note for Rs 200 should be out by the end of 2017.

Indian currency has market determined exchange rate,however RBI actively trades in USD/INR which impact the exchange rates. Although US dollar is the real exchange rate but other rates such as GBP/INR, INR/JPY have floating exchange rates. RBI also dictates system of capital control and there is no restriction at present hindering selling or buying of foreign exchange.

###Convert Pound to Indian Rupee### Convert GBP to INR exchange rate. Buy and sell British Pounds to Indian Rupee. Convert INR to GBP with a currency broker offering the best foreign exchange rates. Exchange GBP to INR - Convert Pound to Indian Rupee for a Free Online Quote.

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