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The rupee – from ancient to modern

The origins of the rupee go all the way back to the 6th century BC, making it one of the oldest currencies in the world. In fact, India was one of the first countries to use coins as legal tender.

For thousands of years the rupee was based around silver coins – the name even comes from the Sanskrit word ‘rupya’, which means ‘wrought silver’. Due to this, it hit some trouble in the 1800s when the value of silver declined across the world. Unlike other affected countries, India stuck to silver instead of changing to gold; after some years using a variety of currencies in quick succession, the rupee was made the official currency again in 1947.