Rupee

Business, Legal & Accounting Glossary

Definition: Rupee



What is the dictionary definition of Rupee?

Dictionary Definition


  1. The common name for the monetary currencies used in modern India, Pakistan, Nepal, Sri Lanka, Seychelles, or Mauritius.
  2. A silver coin, circulating in India 16th–20th centuries, weighing 170–180 troy grains (180 troy grains from 1833) or one tola.

Full Definition of Rupee


The rupee is a unit of currency. The rupee as used in India for its official currency is called the Indian rupee. One hundred paise make one rupee. In English, rupee stands for silver. INR is the currency code for the Indian rupee and Rs is the symbol used for the Indian rupee. Historically, the Indian rupee has been pegged to the pound sterling (i.e. British pound: GBP). The Indian rupee is no longer pegged to the pound sterling (GBP) but follows a managed float against several currencies. The Reserve Bank of India distributes the Indian rupee. Other countries using the rupee are Pakistan (Pakistani rupee), Nepal (Nepalese rupee), Mauritius (Mauritian rupee), Seychelles (Seychellois rupee), and Sri Lanka (Sri Lankan rupee).


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Definition Sources


Definitions for Rupee are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 9th February, 2020 | 1 Views.