HI DEAR ONES,
The Indian Rupee is the original official currency of India.
The rupee (Hindi: रुपया) (code: INR) is the official unit of currency of India. The issuance of the currency is controlled by the Reserve Bank of India. The most commonly used symbols for the rupee are Rs. or as Re.
The modern rupee is subdivided into 100 paise (singular paisa). The coins have a nominal value of 5, 10, 20, 25 and 50 paise as well as 1, 2, 5 and 10 rupee. The banknotes are available in a nominal value of 5, 10, 20, 50, 100, 500 and 1.000 rupee.
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Prominent Figures The Reserve Bank of India is the central bank of India, and it controls the issuance of currency throughout the nation. Also RBI has asked citizens of India to design the symbol for the indian Rupees.
The INR is being pushed by India’s strong growth rate and speculation that there may be an imminent adjustment to China’s FX regime. In addition, India’s trade deficit has experienced record highs in 2004 and 2005.
The current series, which began in 1996, is called the Mahatma Gandhi series. Currency notes are printed at the Currency Note Press, Nashik, Bank Note Press, Dewas, Bharatiya Note Mudra Nigam (P) Limited presses at Salboni and Mysore and at the Watermark Paper Manufacturing Mill, Hoshangabad.
Each banknote has its amount written in 17 languages (English & Hindi on the front, and 15 others on the back) illustrating the diversity of the country. ATMs usually give Rs. 100, Rs. 500, and Rs. 1000 notes. Rs. 1000 notes are analogous to the higher valued notes of the United States dollar and the euro.
In recent years, the banknotes were slightly modified to include see through registration on the left side of obverse. In addition, the year is now printed on the reverse.
1. See if the note is crisp and thin. The notes are printed on optical fiber paper. Fake notes are printed on thick paper make of bamboo pulp. If it is a Xeroxed note the colour and print look faded.
2. Look for the ‘Intaglio” on the denomination i.e.1000,500,100,50 20 ,10 or 5 ( the embossed print that enables the blind to touch and know the denomination of the currency). The chemical’omran’ is used to print in ‘Intaglio’ which looks bright. Intaglio will be missing in counterfeit notes.
3. Look at the note against the light, for the fine and shining ‘security band’on the right side of ‘Intaglio’ look for the faint water mark
4. For a genuine currency note, the number panel will be regular and when scrutinized against ultra violet rays, the letters printed with fluorescent ink shine. For a fake note the security band will be rough and prominent Number panel will be irregular. The numbers are comparatively smaller as compared to the original notes.
- Watermark — White side panel of notes has Mahatma Gandhi watermark.
- Security thread — All notes have a silver security band with inscriptions visible when held against light which reads Bharat in Hindi and RBI in English.
- Latent image — Higher denominational notes (Rupees 20 onwards) display the note’s denominational value in numerals when held horizontally at eye level.
- Microlettering — Numeral denominational value is visible under magnifying glass between security thread and latent image.
- Fluorescence — Number panels glow under ultra-violet light.
- Optically variable ink — Notes of Rs. 500 and Rs. 1000 have their numerals printed in optically variable ink. Number appears green when note is held flat but changes to blue when viewed at angle.
- Back-to-back registration — Floral design printed on the front and the back of the note coincides and perfectly overlap each other when viewed against light.
- EURion constellation