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Rupee is the common name for the currencies of India, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, Bahrain, Kuwait, Oman, the United Arab Emirates (as the Gulf rupee), British East Africa, Burma, German East Africa (as Rupie/Rupien), and Tibet. In Indonesia and the Maldives, the unit of currency is known as rupiah and rufiyaa respectively, cognates of the word rupee. The Indian rupees () and Pakistani rupees () are subdivided into one hundred paise (singular paisa) or pice. The Nepalese rupee (रू) subdivides into one hundred paisa (singular and plural) or four sukaas. The Mauritian, Seychellois, and Sri Lankan rupees subdivide into 100 cents. The Hindustani word rupiyā is derived from the Sanskrit word rūpya (रूप्य), which means "wrought silver, a coin of silver", in origin an adjective meaning "shapely", with a more specific meaning of "stamped, impressed", whence "coin". It is derived from the noun rūpa (रूप) "shape, likeness, image". The history of the rupee traces back to Ancient India circa 3rd century BC. Ancient India was one of the earliest issuers of coins in the world, along with the Lydian staters, several other Middle Eastern coinages and the Chinese wen. The term is from rūpya, a Sanskrit term for silver coin, from Sanskrit rūpa, beautiful form. Arthashastra, written by Chanakya, chief adviser to the first Maurya emperor Chandragupta Maurya (c. 340–290 BCE), mentions silver coins as rūpyarūpa, other types including gold coins (rūpya-suvarṇa), copper coins (tāmrarūpa) and lead coins (sīsarūpa) are mentioned. Rūpa means form or shape, example, rūpyarūpa, rūpya – wrought silver, rūpa – form. This coinage system continued more or less across the Indian subcontinent well till 20th century. In the intermediate times there was no fixed monetary system as reported by the Da Tang Xi Yu Ji. During his reign from 1538/1540 to 1545, Afghan ruler Sher Shah Suri of the Sur Empire set up a new civic and military administration and issued a coin of silver, weighing 178 grains, which was also termed the Rupiya.

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Indian rupee

The Indian rupee (symbol ₹; code: INR) is the official currency in the Republic of India. The rupee is subdivided into 100 paise (Hindi pl; singular: paisa). 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. Pāṇini (6th to 4th century BCE) mentions ISO (रूप्य).

Maratha Empire

The Maratha Empire, also referred to as the Maratha Confederacy, was an early modern Indian empire and later a confederation that rose to dominate much of the Indian subcontinent in the 18th century. Maratha rule formally began in 1674 with the coronation of Shivaji of the Bhonsle dynasty as the Chhatrapati. Although Shivaji came from the Maratha caste, the Maratha empire also included warriors, administrators and other nobles from the Maratha and several other castes from what is known today as Maharashtra.

British Raj

The British Raj (rɑːdʒ ; from Hindi , 'kingdom', 'realm', 'state', or 'empire') was the rule of the British Crown on the Indian subcontinent; it is also called Crown rule in India, or Direct rule in India, and lasted from 1858 to 1947. The Indian Rebellion of 1857 led to the British Crown assuming direct control of India from the East India Company in the form of the new British Raj through the Government of India Act 1858.

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