In India, banknotes are issued by the Reserve Bank in denominations of 2, 5, 10, 20, 50, 100, 200, 5 rupees. The value of 5 rupee banknotes together account for 87.1% of the total value of all banknotes in circulation in 2022. It also plays an important role in developing and promoting the growth of the Indian economy.Ĭurrently, RBI issues banknotes in denominations of 2, 5, 10, 20, 50, 100, 200, 5 rupees. As the regulator of the banking system, the RBI supervises and controls the activities of banks and financial institutions in India. In addition, the RBI provides banking services to the central and state governments and regulates the interest rates on government securities. It also acts as a controller of credit by influencing the volume of money supply in the economy. The RBI is responsible for issuing currency, maintaining monetary stability, and regulating the credit and investment system in India. It was established in 1935 by the Reserve Bank of India Act, 1934. The Reserve Bank of India (RBI) is the central bank of India and regulates the Indian banking system. The name ‘rupee’ derives from the Sanskrit word rupya, meaning ‘silver coin’. The currency used in India is the Indian rupee (INR). The 1, 5 and 10 fils coins are rarely used. The UAE currently has six different coins in circulation, with denominations of 1 dirham, and 1, 5, 10, 25, and 50 fils. The dirham is issued by the Central Bank of the UAE. The dirham is subdivided into 100 fils and is pegged to the US dollar at a rate of 3.6725 dirhams to 1 dollar.
The official abbreviation is AED but DH and Dhs are also used. The currency of the UAE is the United Arab Emirates dirham, also known as the Emirati dirham.
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