2015-12-14 Mon

Did you know that the Indian “rupee” was first introduced by an Afghan ruler?

Sher Shah Suri, of Pashtun Dynasty from Afghanistan, who supplanted the Mughal Dynasty during Humayun’s rule, introduced the first ever silver “rupee” coin in 16th century CE which was later continued by the Mughal dynasty.

The term ‘rupyahad’, which comes from the Sanskrit word “rupya” meaning wrought silver or a silver coin, was previously used as a generic term for any silver coin. Later the term came to be specifically used as ‘rupiya’ as the name for a silver coin of a standard weight of 178 grains (11.66 grams, 15 grains=1 gram), which was the precursor of the modern rupee.

It is interesting to note that the bent bar punch mark coins of the Gandhara Janapada, the Silver Shatamana, from 3rd -4th BC also had a standard weight of 11.66 grams.

The Indian rupee was used even in the British Raj and was continued in the independent India as well.

The new rupee symbol was designed by Udaya Kumara Dharmalingam at the Industrial Design Centre at Indian Institute of Technology, Bombay. The symbol designed is a combination of the Devnagari “ra” and Latin “R” with two parallel lines at the top which make an allusion of the tricolour Indian flag. The parallel line also depicts an equality sign which symbolises the nation’s desire to reduce economic disparities.