The Indian Rupee is the currency in India (IN, IND). The symbol for INR can be written Rs, IRs, and ₨. The Indian Rupee is divided into 100 paise. The exchange rate for the Indian Rupee was last updated on January 5, 2010 from The International Monetary Fund. The INR conversion factor has 6 significant digits. Large amounts of Rupees are expressed in lakh rupees or crore rupees. A Lakh Rupee is one hundred thousand rupees and a crore rupee is ten million rupees.

In 2007, India experienced rapid appreciation of its currency against the US dollar. The reasons for the appreciation of the rupee were a generally weak dollar in international currency markets and sharp increase in dollar inflows into the country, partly due to India’s increasing attractiveness to foreign investors. Although India had been seeing a steady rise in dollar inflows into the country for quite some time, on earlier occasions, the Reserve Bank of India (RBI) had intervened in the foreign currency market and purchased excess dollars so as to prevent any appreciation in the value of the rupee. Now, the RBI decided not to intervene, mainly to control inflation which was around 6 percent in early 2007.