INR FULL FORM
INR stands for Indian Rupee. It is the official currency of India. The symbol for INR is ₹.
The Indian rupee is subdivided into 100 paise. Coins are issued in denominations of 50 paise, 1 rupee, 2 rupees, 5 rupees, and 10 rupees. Banknotes are issued in denominations of 5, 10, 20, 50, 100, 500, and 2,000 rupees.
The Indian rupee is managed by the Reserve Bank of India (RBI). The RBI is the central bank of India and is responsible for issuing currency, regulating the banking system, and managing the country's foreign exchange reserves.
The Indian rupee is a relatively weak currency compared to other major currencies. This is due to a number of factors, including India's large trade deficit and its high inflation rate.
Despite its weakness, the Indian rupee is still a popular currency for international trade and investment. This is due to India's large and growing economy, its young and skilled workforce, and its strategic location in South Asia.
Here are some of the reasons why the Indian rupee is a popular currency for international trade and investment:
- Large and growing economy: India has the world's third-largest economy by purchasing power parity. The economy is growing at a rapid pace, and is expected to continue to grow in the coming years.
- Young and skilled workforce: India has a young and skilled workforce. The country has a large population of people under the age of 25, and many of these people are educated and skilled in a variety of fields.
- Strategic location: India is located in South Asia, which is a strategically important region. The country is a member of the BRICS group of emerging economies, and is also a member of the G20 group of major economies.
