Stalin Govt replaces rupee symbol with Tamil letter in state budget: 10 things students must know about the currency

The recent move by the Tamil Nadu government to replace the Rupee symbol (₹) with the Tamil letter "ரூ" in the state’s budget logo has reignited interest in the history and significance of the Rupee. The currency, deeply rooted in the Indian subcontinent’s history, has evolved over centuries and remains one of the world’s most widely used monetary units. Here are 10 key facts every student should know about the Rupee.

The Rupee is not just India’s currency; it is also used by several other countries, including Nepal, Pakistan, Sri Lanka, Indonesia, the Maldives, Mauritius, and Seychelles. Historically, even countries like Oman, Afghanistan, and Kuwait used variations of the Rupee, such as the Gulf Rupee.

The word "Rupee" is derived from the Sanskrit term “rūpya,” meaning "wrought silver" or "stamped coin." Ancient texts by Panini, the famous Sanskrit grammarian, mention "rūpa" to describe a piece of silver used in trade. This proves that the Rupee has been in existence for thousands of years.

Even before formal coins were introduced, the Indus Valley Civilization (2600–1900 BCE) used fixed-weight metal pieces, including silver, for trade. This early form of monetary exchange set the foundation for standardized coinage in later Indian kingdoms.

The first officially recognised silver Rupee coin was introduced by Afghan ruler Sher Shah Suri during his reign (1540–1545 CE). Weighing 178 grains (approximately 11.53 grams), this coin became the basis of India's monetary system for centuries.
The Mughal Empire continued using the Rupee but introduced variations. Notably, Emperor Akbar issued gold and silver coins featuring Hindu deities, including Lord Ram and Sita, between 1604 and 1605 CE, marking a unique blend of religious and economic history.
Under British rule, the Indian Rupee was divided into 16 annas, each further split into four pice, making one Rupee equal to 64 pice or 192 pies. This system remained until India adopted the decimal system in 1957, transitioning to 100 paise per Rupee.
The modern Rupee symbol (₹) was designed by Udhay Kumar, a Tamilian, and officially adopted in 2010. It combines elements of Devanagari (र) and the Latin letter "R" to represent India’s unique economic identity.
India's Rupee significantly impacted trade in Southeast Asia and the Middle East. The Straits Settlements (modern-day Malaysia and Singapore) used an Indian-inspired currency before switching to the Singapore Dollar.
Today, around 2 billion people worldwide use some form of the Rupee as currency. With India’s growing economic influence, the Rupee plays a crucial role in international trade and financial markets.
With advancements in technology, India has introduced the Digital Rupee (e₹), a central bank digital currency (CBDC) aimed at revolutionising financial transactions and reducing dependence on physical cash.
The Rupee’s journey—from ancient silver coins to modern digital transactions—reflects India’s rich history and evolving economy. With Tamil Nadu’s recent move bringing language and currency debates to the forefront, students must understand the significance of the Rupee as a symbol of economic, cultural, and political identity.