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Indian rupee
India officially uses the rupee as the local currency. 1 rupee is divided into 100 paisa.
Currency regime
The rupee trades freely against major currencies with the central bank targeting inflation. The central bank does, however, intervene to limit currency fluctuations and the movements between the rupee and US dollar are relatively limited.
Commercial rates
As at August 6th 2007, the rupee was trading around 40.4 against the dollar, 55.7 against the Euro and 82.0 against Sterling.
Tourist rates
Important. It is not possible to obtain Indian rupees outside India. It is recommended that travellers take Sterling travellers cheques.
As at August 6th 2007, the tourist rate for the rupee was around 78.50.
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