Currency System

Rupee

Indian bank notes depicting M. K. Gandhi, the 1000 rupee note is the highest denomination printed.

The Rupee is the only legal tender accepted in India. The exchange rate as of February 24, 2008 is about 40.07 to a US dollar, 59.41 to a Euro, and 79.83 to a UK pound. The Indian rupee is accepted as legal tender in the neighboring Nepal and Bhutan, both of which peg their currency to that of the Indian rupee. The rupee is divided into 100 paise. The highest-denomination banknote is the 1,000 rupee note; the lowest-denomination coin in circulation is the 25 paise coin.

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