The Indian rupee (code: INR) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.
The modern rupee is subdivided into 100 paise (singular paisa) though this division is now theoretical; as of 30 June 2011, coin denominations of less than 50 paise ceased to be legal tender. Bank notes are available in nominal values of 5, 10, 20, 50, 100, 500 and 1000 rupees. Coins of the rupee are available in 1, 2, 5 and 10. Paise coins of the rupee have nominal values of 1, 2, 5, 10, 20, 25 and 50, but lower denominations are now rarely seen.
The Indian rupee symbol (officially adopted 2010) is derived from the Devanagari consonant "?" (Ra) with an added horizontal bar. The symbol can also be derived from the Latin consonant "R" by removing the vertical line, and adding two horizontal bars (like the symbols for the Japanese Yen and the Euro). The first series of coins with the rupee symbol was launched on 8 July 2011.