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LOCAL CURRENCY IN INDIA

Want to know the local currency in India? The local money in India is called Rupee.

The Indian Rupee is issued and managed by the Reserve Bank of India. To find out the current currency exchange rates for Rupee to other major currencies of the world, click on foreign currency rates.

Indian Currency Information
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The currency used in India is called as the Rupee. This currency is denoted with the currency sign ? or Rs and the ISO 4217 Code for the Indian Rupee is INR. The Rupee, is the official currency of the India . It is divided into 100 smaller units called Paisa.

The constitution of India provides that the India government shall have the power to print the Indian Rupee and Paisa coins to be used as a legal tender in India. The Indian Rupee bank notes and Paisa coins are both designated as "legal tender" in payment of debts.

The Indian Rupee bill uses the decimal system, consisting of 100 equal units.

The symbol ? or Rs, usually written before the numerical amount, is used for the Indian Rupee.

Currently printed bank notes denominations are and the coins are minted in the denominations of .

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The Effect of Balance of Trade and Investment on Indian Rupee
Financial analysts regularly cite the balance of trade and investment in India as the most important influence on the value of the Rupee. The difference between what the India exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Rupee exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Rupee exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Indian Rupee.
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