24/03/2020: COVID-19 Impact on Indian Rupee
The global COVID-19 pandemic caused significant volatility in the Indian Rupee exchange rate, leading to depreciation against major international currencies.
08/11/2016: Demonetization
The Indian government announced the demonetization of ₹500 and ₹1,000 banknotes, requiring individuals to exchange or deposit their old currency notes at banks.
20/09/2015: Adoption of New Constitution
Nepal adopted a new constitution, resulting in political unrest and affecting the Nepalese Rupee's stability.
03/07/2007: Indian Rupee Symbol
The Indian Rupee was given its own unique symbol ₹, representing the integration of the Indian Rupee into the global currency landscape.
26/10/1999: Maoist Insurgency Begins
The start of the Maoist insurgency in Nepal led to political instability and economic challenges, impacting the value of the Nepalese Rupee.
08/04/1993: Nepalese Rupee's Peg to Indian Rupee
The Nepalese Rupee was pegged to the Indian Rupee at a fixed exchange rate.
21/06/1991: Liberalization of Indian Economy
India initiated economic reforms, including the liberalization of foreign exchange controls. This led to the beginning of the exchange rate regime reforms for the Indian Rupee.
30/12/1972: Reintroduction of Nepalese Rupee
Nepal reintroduced the Nepalese Rupee as the official currency, separating it from the Indian Rupee.
12/03/1960: Replacement of Nepalese Rupee
The Nepalese Rupee was replaced by the Indian Rupee as the legal tender in Nepal.
15/12/1959: Nepal Rastra Bank Established
Nepal Rastra Bank, the central bank of Nepal, was established to oversee the monetary system and issue the Nepalese Rupee.
24/06/1957: Decimalization of Indian Rupee
The Indian Rupee was decimalized, dividing it into 100 paise. This change simplified the currency system and introduced a uniform monetary system across the country.
15/08/1947: Indian Independence
India gained independence from British rule, leading to the establishment of the Reserve Bank of India as the central bank and the Indian Rupee as the official currency.
07/04/1932: Introduction of Nepalese Rupee
The Nepalese Rupee was officially introduced as the currency of Nepal, replacing the silver mohar.
01/01/1862: Introduction of Indian Rupee
Indian Rupee was introduced by the British government as the official currency of British India. It replaced various local and foreign currencies that were in circulation.