The currency of India is the 'Rupee', but did this question ever occur to your mind that who gave it the name 'Rupee'? Although its origin is derived from the Sanskrit word, but you will be surprised that it was a Mughal ruler who named this currency 'Rupee'. Know interesting facts here.

We and you use the notes and coins in our pockets every day. From drinking tea to buying household items, we need 'Rupee' for everything. But have you ever wondered why the currency on which our entire economy is based is named 'Rupee'. Someone must have given this name. Where did it come from? Let's know about this interesting fact today.

It has its roots in Sanskrit, means 'silver'

The word 'Rupee' is not new. Its roots are in Sanskrit, a language thousands of years old. There is a word in Sanskrit - 'Rupya' or 'Rupyakam'. These words simply mean 'minted silver' or 'silver coin'. In ancient India, gold and silver were used a lot for transactions. In that era, coins made of silver were called 'Rupyakam'. The great scholar Panini has also mentioned this in his book 'Ashtadhyayi'. Even Chanakya, the advisor of Chandragupta Maurya, the founder of the Maurya Empire, has mentioned silver coins as 'Rupyarup' in his book 'Arthashastra'. So it is clear that the name is directly connected to silver.

That historic decision of Sher Shah Suri

Even though the name was being mentioned for centuries, the credit for establishing it as a standard currency goes to a ruler who ruled for only 5 years. We are talking about Sher Shah Suri, the founder of the Suri Empire.

During his reign between 1540 and 1545, Sher Shah Suri made many major reforms, one of which was to organize the currency system. Before him, different types of coins were used in the rule of different kings, which had neither a fixed weight nor a standard name. This caused a lot of problems in trade.

Sher Shah Suri ended this confusion. He mainly used coins of three metals

Gold coins: These were called 'Mohar'.

Silver coins: These were named 'Rupee'.

Copper coins: These were called 'Daam'.

He was the one who standardized the weight of a silver coin for the first time, which was 178 grains (ie about 11.53 grams). He officially named this standard silver coin as 'Rupee'. This was such a successful system that later Mughal rulers and then the British also adopted it.

From Mughals to British... the journey of 'Rupees' continued

The 'Rupees' started by Sher Shah Suri became so popular that even Mughal emperors kept it as their main currency. They used to get the name of their mint and verses from the Quran written on it. When the British came to India, they also continued the system of Rupees. The British East India Company issued its silver coins, whose weight was also almost the same as Sher Shah Suri's Rupees. Later, the picture of the King or Queen of Britain started getting printed on these coins.

The new 'Rupees' after independence

When the country became independent in 1947, we had our own currency, but it had the picture of George VI on it. It was decided to change it. In 1950, India became a republic and for the first time, the picture of the three lions of our national symbol 'Ashoka Pillar' was printed on our Rupees instead of the King of Britain.

Another big change happened in 1957. India adopted the decimal system of currency. Under this, 1 rupee was divided into 100 equal parts. These parts were called 'naya paisa'. This was done so that people do not get confused with the old 'aana' system. Then in 1964, the word 'naya' was removed and it remained only 'paisa'. Since then, 1 rupee is equal to 100 paise.

Frequently Asked Questions (FAQs)

1. Who gave the name 'rupee' to the Indian currency?

Answer: The word 'rupee' has its origin in Sanskrit, but the credit for giving it an official name as a standard silver coin goes to the 16th century ruler Sher Shah Suri.

2. What is the meaning of the word 'rupee'?

Answer: This word comes from the Sanskrit word 'rupyakam', which means 'silver' or 'coin made of silver'.

3. What was the weight of the silver rupee issued by Sher Shah Suri?

Answer: The weight of Sher Shah Suri's rupee was 178 grains, which is approximately 11.53 grams today.

4. When was 1 rupee divided into 100 paise in India?

Answer: This happened in 1957, when India adopted the decimal system of currency. Initially, these were called 'Naya Paisa'.

5. When was the new symbol of rupee (₹) adopted?

Answer: The Government of India officially adopted the new symbol of rupee (₹) designed by D. Udaya Kumar on 15 July 2010.