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Currency history

Indian rupee

India’s rupee continues the account unit standardized under Company rule, surviving independence and decimalization.

Dates in use
Uniform British Indian system from 1835; still in use
Earlier history
Rupee traditions predate the 1835 standardization
Where
India
Subdivision
1 rupee = 100 paise
Currency code
INR
Ancestry branch
Indian rupee

Sources for the facts [1] [2] [3] [4]

Its place in the family

All ancestors and descendants ↗
Indian rupee: documented and qualified family connections PARENTS THIS CURRENCY CHILDREN Calcutta sicca rupeeCalcutta sicca rupee 1835–1838 · DocumentedDocumented connection · 1835–1838 Madras pagoda–fanam accountingMadras pagoda–fanamaccounting 1818–1835 · QualifiedLater contribution or absorptionQualified connection · 1818–1835 · Period of differentiation, not an exact foundation date. Kenya and Uganda florinKenya and Uganda florin 1920 · DocumentedFlorins per former local rupee for coveredcontract references; not a universal cashDocumented connection · 1920 · Florins per former local rupee for covered contract references; not a universal cash withdrawal. Pakistani rupeePakistani rupee 1947–1948 · DocumentedDocumented connection · 1947–1948 Kuwaiti dinarKuwaiti dinar 1961 · DocumentedDocumented connection · 1961 Indian rupeeIndian rupee INR

The diagram shows up to three parents and three children. Every direct connection is listed below.

Parents 2

Indian rupee

This currency

Children 12

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The story

The rupee was not invented in 1835. Company coinage drew on earlier rupee traditions, including Mughal-style issues. The uniform British Indian system brought these histories into a common framework, while legislation addressed payments in Company rupees and protected specified sicca-denominated obligations. [1] [2] [5]

Crown coinage followed in 1862. India continued the inherited monetary system after independence in 1947 and introduced distinctive Republic coins on August 15, 1950. New designs and a new sovereign did not rescale the account unit. [6] [3] [4]

Decimalization took effect on April 1, 1957. One rupee became 100 paise instead of 16 annas, but the rupee kept its name and value. The change was to its subdivisions, not the creation of another rupee. [4]

Turning points

A uniform British Indian rupee

Coinage and payment rules consolidate the Company system. [1] [2]

Crown coinage begins

The issuing authority and designs change within the rupee system. [6]

Independence, monetary continuity

The inherited rupee system continues. [3]

Republic coins appear

Distinctive national designs replace the earlier royal imagery. [4]

One rupee becomes 100 paise

Decimal subdivisions replace the anna system without rescaling the rupee. [4]

Rupee devalued

The official dollar rate changes from 4.75 to 7.50 rupees. [7]

Sources and evidence

  1. The Royal Mint · Empire to Independence Six-Coin Rupee Set
  2. Governor-General of India in Council · Act XVII of 1835: Gold and Silver Coinage Act
  3. Government of India, Ministry of Finance / Press Information Bureau · Decimal Coinage — a Fascinating History, 30 March 2007
  4. Reserve Bank of India · Republic India Coinage
  5. Governor-General of India in Council · Act XVII of 1835: Gold and Silver Coinage Act; Judicial Committee of the Privy Council · Meer Mahomed Hossein v A. J. Forbes (1874)
  6. The Royal Mint · Empire to Independence Six-Coin Rupee Set
  7. Reserve Bank of India · Brief History — 1960 to 1971

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Cite this page

“Indian rupee.” The Family Tree of Money. © Field Technologies, Inc. Updated 2026-10-13; data version v44. https://familytreeofmoney.org/currency/FTM000285.html

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