The Indian rupee is India's official monetary. The coins of denomination of 1 rupee are divided into 100 countries (singular: paisa), but the most lowest coinage value in use since 2019. Monetary issuance is regulated by the Indian Reserve Bank. In India , the Reserve Bank manages and derives its position in the management of currencies on the basis of the 1934 Reserve Bank of India Act. A new symbol for the rupee was formally introduced in 2010. It was developed by D. Udaya Kumar. It was derived from the combination of the Devanagari r consonant with the Latin capital letter "R" (similar to R round) without its vertical bar. The parallel lines on the top (white space between them) refer to the three-colored Indian flag as well as to a symbolic sign of equality, symbolizing the desire of the country to the economic inequities. On 8 July 2011, the first row of coins started circulation with the latest rupee symbol. During the past, India used and & as symbols for several rupees and one rupee.
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