The Indian rupee is the currency of India. The banknotes are printed on paper. The Reserve Bank of India (RBI) is responsible for issuing the Indian banknotes.
The Indian rupee has been pegged to both the British pound and the U.S. dollar in the past, but currently has a freely floating exchange rate. India’s neighboring countries, Nepal and Bhutan, are both pegged to the rupee. Based on market exchange rates, the Indian economy is about the tenth largest in the world.
Did You Know?
These items cost the USD equivalent in the city of New Delhi, India*:
10 Mile Cab Ride: $3.41 USD
Budget Dinner for 2: $8.41 USD
Pint of Beer: $1.48 USD
*Figures are based on 2018 data. Information is subject to change as exchange rates and cost of goods fluctuate.
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About Currency Exchange International
CXI is a full service foreign currency exchange and international payments company headquartered in Orlando, Florida and publicly traded on the Toronto Stock Exchange (TSX:CXI). CXI uses its expertise to make foreign money easier for individuals, businesses, and financial institutions.