Indian rupee

High school (ages 12+)
People & Society

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Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/indian-rupee

1. Who wrote Indian rupee?
2. What is the official currency?
3. What is the symbol?
4. What is the Indian rupee and where does its name come from?
5. How did the Reserve Bank of India become the only place that can make rupee notes and coins?

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. Who wrote Indian rupee?Reserve Bank of India
2. What is the official currency?Indian rupee (INR)
3. What is the symbol?₹
4. What is the Indian rupee and where does its name come from?The rupee is India's money. Its name comes from the Sanskrit word "rupya," meaning "wrought silver," because early coins were made of silver.
5. How did the Reserve Bank of India become the only place that can make rupee notes and coins?The Reserve Bank of India was created on April 1, 1935, by the Reserve Bank of India Act of 1934. The law gave it the exclusive power to issue all currency notes and coins in India.

Legal Tender: Money that must be accepted by law for the payment of debts.
Monetary Policy: Actions by a central bank to manage the money supply and credit conditions to influence the economy.
Exchange Rate: The value of one currency for the purpose of trading it for another.
Capital Account Convertibility: The ability to freely convert domestic currency into foreign currency for investment purposes.