Rupee Meaning: Definition, Examples, and Translations
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rupee
[ˈruːpiː ]
Definition
currency unit
The rupee is the official currency of several countries in South Asia, most notably India, Pakistan, Nepal, and Indonesia. It is often abbreviated as 'Rs' and can be further differentiated by country, such as INR for Indian Rupees. The value of the rupee fluctuates against other currencies based on economic factors such as inflation and interest rates. The term is derived from the silver coin 'rupee', which was originally used in medieval India and has a long history in trade.
Synonyms
Examples of usage
- I exchanged my dollars for rupees before traveling to India.
- The price of goods in rupees has risen due to inflation.
- She saved enough rupees to buy her dream smartphone.
- The rupee has weakened against the dollar recently.
- He donated 500 rupees to the charity.
Translations
To see the translation, please select a language from the options available.
Origin of 'rupee'
The word 'rupee' originates from the Sanskrit term 'rupya', meaning 'wrought silver' or 'a form of silver coin'. It came into use in India during the 16th century, primarily as a term for the silver coin issued by various Indian kings. The rupee was widely accepted in trade and gradually became the basis for the currency system in the Indian subcontinent. By the 19th century, during the British colonial era, the rupee was standardized and became the official currency of India. Following independence in 1947, the Indian government continued to issue the rupee, and it was decimalized in 1957. Today, several other countries, such as Pakistan, Nepal, and Indonesia, have adopted the term 'rupee' for their currencies, leading to variations in its form and value across different nations.