INDIA

(INR) Currency News >>

CURRENCY:

Rupee - INR, Symbol Rs

DENOMINATIONS:

NOTE: Rs1,000, 500, 100, 50, 20 and 10.

COIN: Rs5, 2 and 1, and 50, 25, 20, 10 and 5 paise

US DOLLAR ACCEPTED?

Yes, widely.

CREDIT/DEBIT CARDS AND ATMS:

There is a growing acceptance of most major credit cards.

CURRENCY EXCHANGE:

This can be done at banks and airports - make sure that it is an authorised money changer. The easiest currencies to exchange are the Pound Sterling and US dollar.

TRAVELLER'S CHEQUES:

Widely accepted. Can be changed at most larger hotels and banks. Best in US dollars and Sterling. Note that banks differ in which type of travellers cheques they are happy to exchange, so shop around.

BANKING HOURS:

Mon-Fri 1000-1400 Most banks open on Saturday mornings.

CURRENCY RESTRICTIONS:

No import or export of local currency.

COUNTRY OVERVIEW:

India is officially called the Republic of India and is a country in South Asia. It has the second biggest population in the world and is the seventh-largest country. There are some of the major religions based and originated in India including Buddhism and Hinduism and a multiethnic, multilingual society. It has been independent from the United Kingdom since 1947. The capital is New Delhi but the largest city is Mumbai. The official languages are Hindi and English.

POPULATION:

Around 1,147,995,904

ECONOMY:

India in fact has the twelfth largest economy in the world and stands in fourth place for purchasing power. Despite this, it has a large problem with poverty and lack of education - a large proportion of the population are illiterate. There are also issues with malnutrition. The economy's growth rate has been substantial and it is one of the fastest growing in the world. The main elements are agriculture - wheat, rice, tea, sugarcane, and many more - and service and industrial sectors. The labour force in India is the world's second largest.