Increasing supremacy of rupee
Indian currency became so strong that every country is known by its flag and currency. Since independence till today, the flag of India flutters gracefully on the world stage and the Indian currency, the rupee, has slowly established itself in the world. Today we will tell you about the increasing influence of the rupee, how after 76 years of independence, the rupee is slowly leaving its mark on the world.
On August 15, India will celebrate its 77th year of independence. Any country is identified by its flag and its currency. Since independence till now, the flag of India has been waving with great pride on the world stage and the currency of India “Rupee” is also slowly gaining its foothold in the world.
Today we are going to tell you about the increasing supremacy of rupee, how in 76 years of independence, rupee is slowly leaving its mark in the world. It is said that if you want to understand the present, you have to go into the past. So let’s go back to the past of Rs.
What is the history of rupees According to the historian, “Rupee” was used for the first time by Sher Shah Suri. Then gold and copper coins were used in this era. The tomb of Sher Shah Suri is currently in Sasaram city of Bihar. The history of the rupee dates back to the 6th century BC. The first Indian coins were minted by the Mahajanapadas (state-republics of ancient India), also known as Puranas, Karshapanas or Panas. These Mahajanapadas included Gandhara, Kuntala, Kura, Panchala, Sakya, Surasena and Saurashtra.
The first Mauryan emperor, Chandragupta Maurya, issued coins stamped with silver, gold, copper or lead. In the 12th century, the Turkish Sultan of Delhi replaced the coins bearing the royal designs of Indian kings with his own Islamic calligraphy. In 1526 AD, the Mughal Empire unified an empire-wide currency system. It was during this period that the rupee developed when Sher Shah defeated Humayun and issued a 178 gram silver coin called the rupee. These coins were also used during the Mughal, Maratha and British Indian eras.
If we talk about money during the British period, then before the British came, there were only coins in the country. For the first time during the British period, the Bank of Hindustan General Bank and the Bank of Bengal issued paper currency in India in the 18th century, which was the first paper currency in British India. After the Revolution of 1857, the British made the rupee the official currency of India and put the portrait of King George VI on bank notes and coins. The Reserve Bank of India issued the first five-rupee note with the portrait of George VI in 1938. This was followed by Rs 10 notes in February, Rs 100 notes in March and Rs 1000 and Rs 10,000 notes in June 1938.
What is the current status of the rupee, as we told you at the beginning of this article that the rupee is gradually gaining ground in the world, let us now tell you how it is happening. In fact, after independence, the country became independent, but India was still a slave in the eyes of the world, for which it was very important that along with the flag, the Indian currency should also be made of rupees. Efforts to make rupee an international currency in the country have been going on for years, not from today.
International currency means how many countries do business with your currency or your currency is accepted. In this step, in the year 2013, RBI took a big step and allowed foreign investors to hold “masala bonds”. These were rupee denominated bonds which made it easy for foreign investors to buy and sell such assets.
Now so many countries do trade in rupees, due to the various economic policies of the government and RBI, the Indian currency rupee will give India the recognition of a superpower in the world. You can only guess from the fact that at present 18 countries of the world have agreed to trade in ‘Rupee’.
Not only this, in December 2022, India and Russia have completed their first trade in rupees. Let us tell you that Malaysia, Mauritius, Myanmar, United Kingdom, Russia, New Zealand, Sri Lanka, Oman, Seychelles, Singapore, Tanzania, Uganda, Botswana, Fiji, Germany, Guyana, Israel and Kenya are the countries that have allowed trade in Rupee. Is.
