You might know by now that the rupee is a currency used by many countries in the world, including Sri Lanka, Nepal, Pakistan, and the Maldives other than India. But do you know where the word ‘rupee’ came from?
‘Rupiye’ is known to have been derived from the Sanskrit word ‘rupaa’ which means ‘silver’ or ‘made of silver’. Further, ‘rupaa’ is believed to have sprung from the Dravidian word ‘uruppu’, which means a ‘member of the body’.
References about ‘rupiye’ first appeared in ancient texts. Arthasastra, a legendary work by Chanakya mentions ‘rupyarupa’ in the context of silver coins. He also used the terms suvarnarupa, tamararupa and sisarupa for gold, copper and lead coins.
However, the introduction of ‘rupiya’ to Medieval India was made by the Afghan ruler Sher Shah Suri, sometime between 1540 and 1545. Rupiya was the term used for silver coins weighing 178 grains. The coin remained in use throughout the Mughal and the Maratha periods, as well as in the British India.