Indian Rupee

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Indian Rupee

The currency of India. Prior to the independence of India, there were various Indian rupees and other currencies in circulation, many issued by different colonial powers. The modern rupee is descended from the rupee issued by the British. It was pegged to gold for much of its history, finally floating after the end of the Bretton Woods System in 1971.
References in periodicals archive ?
A steady fall in the value of the Indian rupee against the US dollar over the last one month has sparked a flurry of remittance from Qatar, which has its currency pegged to the Greenback," said Zubair Abdul Rahman, operations manager at the Al Zaman Exchange.
Secondly, the investor is betting that there will be no further depreciation in the Indian rupee from the time of booking until maturity.
For the beneficiaries of the remittances, this week marked another high when the Indian rupee lost ground following the devaluation of the yuan, which in turn meant that the inward remittances from family members around the globe in leading currencies increased in value.
While the MSCI Futures contracts launched last week were designed for an institutional investor base, these two products of Mini Indian Rupee Futures primarily have a retail focus.
The launch of the options contract will build on the success of the DGCX Indian Rupee Futures contract, which has experienced significant growth in demand over the past year, it added.
In December 2005, Mehta's painting 'Gesture' was sold for 31 million Indian rupees to Ranjit Malkani, chairman of Kuomi Travel, at the Osian's auction.
exchange rate management system which made the Indian rupee partially
The contract is one-tenth the size of regular DGCX Indian Rupee Futures contract
Although Indian rupee futures contract and gold futures contract are the two most active contracts traded on the DGCX, in a recent interview with Gulf News, Ahmad Bin Sulayem, Chairman of DGCX, said the exchange is fully committed to developing other contracts as viable asset classes.
The Dubai Gold and Commodities Exchange (DGCX) is set to expand its Indian Rupee (INR) product offering with the launch of an INR Options Contract on September 26, 2011.
MUSCAT: Indian rupee may further appreciate in the coming weeks, after touching a two-year high, hitting hard on the remittances of Indian expatriates working in the Gulf countries, according to sources in money exchange houses.
Not long ago, the same exchange houses transacted huge remittances to India with one Qatari riyal fetching as high as 13 Indian rupees.