Origin of the word ‘Rupee’: Know the interesting journey in the history of Indian currency

New Delhi

Every day we use the word ‘rupee’ – sometimes while buying vegetables, sometimes while paying online. But have you ever tried to go to the root of this word? Who was the person who gave rise to a permanent and strong posture like ‘rupee’? The answer to this question is hidden in the saga of a warrior-conscience of history, who ruled India for only five years, but the echo of its reforms was heard for centuries. He was – Sher Shah Suri.

Who was Sher Shah Suri?
Sher Shah Suri was a ruler of Afghan origin, whose real name was Farid Khan. Once, he got the title of ‘Sher Shah’ after fighting the lion alone and killing him. From 1540 to 1545, he was the ruler of India. During this small reign, he made many major administrative and economic changes, the most important of which was the introduction of the permanent currency system.

How did the word ‘rupee’ begin?
Sher Shah Suri ran a silver coin based on a fixed standard, which weighed 178 grains (about 11.53 grams). This coin was named ‘Rupee’. This name was taken from the Sanskrit word ‘Rupyakam’, which means – made of silver. That is, ‘Rupee’ was originally a silver coin. Apart from this, he also brought gold coins (stamps) and copper coins (prices), which led to a balance in the country’s economy.

Why was this change necessary?
Prior to Sher Shah’s rule, different types of coins were prevalent in different areas in India-whose weight, metal purity and value did not match each other. Due to this, there was a lot of confusion and inconvenience in trade, tax collection and government transactions. Sher Shah solved this problem by implementing a uniform currency system for the entire empire. This not only made trade easier, but the governance also became more organized and reliable.

RBI also accepted Sher Shah’s contribution
The Reserve Bank of India (RBI) has also considered Sher Shah Suri as the ruler of ‘Rupee’ in its official documents. His codal system was so impressive that the later Mughal rulers also adopted the same structure and maintained for a long time.

Not only currency, full range of reforms
Sher Shah Suri was not limited to currency improvement. He got the construction of roads, introduction of postal system, construction of inn and resting sites – which helped traders, soldiers and passengers to travel across the country. For example, it developed the Grand Trunk Road better, which still connects many parts of India, Pakistan and Bangladesh.