History of Rs.1 in India//History of 19 August: East India Company minted one rupee coin//

History of Indian RS.1 

The East India Company on 19 August 1757 issued the first coin of Rs. 1.This coin was made in the mint of Calcutta. East India companies entering India with trade intentions also put a lot of emphasis on making coins here. Although the process of manufacturing money in India had already started before the British, but the East India Company brought it into practice.

The first coin of the rupee was issued daily on 19 August 1757. Which was made in the mint of Calcutta. The first coins made by the East India Company were run in the Mughal province of Bengal. A treaty was signed in 1757 with the Nawab of Bengal for the mint East India Company which produced the first coin of one rupee.

Although the East India Company had already established the coin mint mints in Surat, Ahmedabad and Bombay, but still the first one rupee coin could be made in the mint of Calcutta. The mint was created by the East India Company in 1757 under a treaty with the Nawab of Bengal. This mint was in a building standing on a par with the Black Hall in the old fort, which remained there from 1757 to 1791.

Coin inventions in India were delayed, with the first coin minted in the year 1950. India became independent in 1947 but British coins were in circulation in the country till the year 1950, at the same time coins were introduced in India. The 1 rupee coin came into circulation since 1962, which is still running indiscriminately in the markets.

Coins of 2 rupees, 5 rupees and 10 rupees are still used for transactions. The coin of 2 rupees came into circulation since 1982 and the coin of 5 rupees came into circulation since 1992, in addition to the year 2006, the government has also issued a coin of 10 rupees in the country.

Interesting facts related to rupee, 1 rupee was once equal to 13 dollars

The history of currency in India is 2500 years old. The point is in 1917, when 1 rupee was equal to 13 dollars. Then India became independent in 1947, 1 rupee to 1 dollar. There was no debt on it at the time of independence. In 1951, the government took a loan for the first five-year plan. Between 1948 and 1966, the dollar was around 4.66 rupees. One dollar 8.39 rupees in 1975, one dollar 12 rupees in 1985.

In 1991, a dollar rose to a low of 17.90 rupees due to huge inflation, low growth rate and reduced foreign reserves. During 2000–2010 it reached 40–50 rupees for one dollar. In 2013, this limit was exceeded and the price of one dollar reached 65.50 rupees.