Currency

India’s currency is the Rupee, consisting of 100 paise. Standard denominations of the currency in circulation are: 
Notes:  Five, Ten, Twenty, Fifty, Hundred, Five-hundred and One thousand rupees
Coins:  Twenty-five, fifty paise; one, two, and five rupee coins

Besides currency notes and coins, travellers’ cheques (for travel only) and credit cards are popularly used in commerce, especially in trade of consumer products and services.  All the major international cards are available in India.

The Indian counting system also uses some traditional terms, which are quite different from international standards. Two such Indian terms are the lakh (hundred thousand) and the crore (ten million), which are widely used in daily life, official reports, and even in banking correspondence. Businesspersons are advised to understand and use these Indian terms in local business dealings.

The exchange value of the Indian rupee is 44.83 per US Dollar and 58.45 per Euro (exchange rates of December 2006).