Whois & Analysis for currencyconverterlive.com

The Indian rupee (sign: ₹; code: INR), is the official currency of the Republic of India.

The rupee is subdivided into 100 paise (singular paisa), though as of 2011, 25 paise is no more a legal tender.

The issuance of the currency is controlled by the Reserve Bank of India.

The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.

The rupee is named after the silver coin, rupiya, first issued by Sultan Sher Shah Suri in the 16th century and later continued by the Mughal Empire.

In finance, an exchange rate (also known as a foreign-exchange rate, forex rate, ER, FX rate or Agio) between two currencies is the rate at which one currency will be exchanged for another.

It is also regarded as the value of one country’s currency in relation to another currency.

For example, an interbank exchange rate of 119 Japanese yen (JPY, ¥) to the United States dollar (US$) means that ¥119 will be exchanged for each US$1 or that US$1 will be exchanged for each ¥119.

In this case it is said that the price of a dollar in relation to yen is ¥119, or equivalently that the price of a yen in relation to dollars is $1/119.

The United States dollar (sign: $; code: USD; also abbreviated US$ and referred to as the dollar, U.S. dollar, or American dollar) is the official currency of the United States and its insular territories per the United States Constitution.

It is divided into 100 smaller cent (¢) units.

The circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars.

A currency (from, "in circulation", from) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins.

A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation.

Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency.

These various currencies are recognized stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies.

Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.

Dollar (often represented by the dollar sign $) is the name of more than twenty currencies, including (ordered by population) those of the United States, Canada, Australia, Taiwan, Hong Kong, Singapore, New Zealand, Liberia, Jamaica and Namibia.

The U.S. dollar is the official currency of East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshall Islands, Palau, the Caribbean Netherlands, U.S. territories such as Puerto Rico, American Samoa and the United States Virgin Islands and for banknotes, Panama.

Generally, one dollar is divided into one hundred cents.