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INDIA (INR) INDIAN RUPEE
The Indian rupee is the currency of India and is symbolised by the code INR. It
is abbreviated as ‘Rs’’, ‘□’ or in Hindi as ‘rupiah’. A rupee is subdivided into
100 paise. India is believed to be one of the first issuers of coins dating back
to the 6th Century BC.
Currently in circulation
Coins that are used at present are in the denominations of 50p, 1, 2 and 5 rupee
coins. The 50 paisa coin is the only paise denomination in circulation today but
very few can be seen doing the rounds. As for banknotes the denominations in
circulation are 5, 10, 20, 50, 100, 500 and 1000 rupee notes.
Exchange facilities and traveller’s cheques
Almost all the banks in India offer foreign currency conversions apart from
which hotels and a mass of authorised exchange offices provide this facility.
Traveller’s cheques are also easy to cash here.
Using credit/debit cards
Credit and debit cards are widely accepted throughout India with most of your
expenses being paid off through your cards. ATM’s can be found in abundance in
banks or as standalone machines. Indians depend widely on credit and debit cards
to make payments at most places.
Restrictions
The import of Indian currency is prohibited other than a 100 rupee note. A
resident of India is allowed to take an amount not exceeding Rs5000 to be used
on return if going on a short journey abroad. There is no limit to the amount of
foreign currency that can be brought in but if the amount including traveller’s
cheques is above $10,000 then it has to be declared at the customs and the
necessary document be procured.
India: An overview
India is a country of vast diversity with a healthy mix of various cultures and
traditions fused with the vibrant colours of each region. A fascinating array of
the most sumptuous foods, with every region boasting of a more unique feast fit
for a food connoisseur; are all to be found in India. India also has a
tremendous historical background and you can see its history through the many
monuments and ruins that are scattered all over the country. The exotic palaces
of the Maharajas and the Nawabs now turned into grand hotels, the forts,
beaches, the beautiful hills and many other attractions draw tourists year after
year.
The cost of living in India as compared to the west is comparatively low. A
three star hotel room in Goa would cost about Rs9032/$180/£126 per night. A
three-course meal would cost you a mere Rs200/£4/£3 and a bottle of wine about
Rs100/$2/£1.40. An average cost per day can be placed at Rs500/$10/£7 per head
at the minimum.
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