Rupee

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Rupee

1. 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.

2. The name of several now defunct currencies in South Asia and the Middle East. Examples include the Bhutanese rupee and the Gulf rupee.