Name: US Dollar
Minor Unit: 1/100 Cent
Central Bank: Federal Reserve Bank
Country(ies): United States, American Samoa
Rank in the most traded currencies: #1
Name: Indian Rupee
Minor Unit: 1/100 paisa
Central Bank: Reserve Bank of India
Country(ies): Bhutan, India, Nepal
Rank in the most traded currencies: #17
The US Dollar is the most traded currency in the world, and Indian rupees are also among the 10 largest currencies in the world. Every day, around 2 billion USD are traded between the two currencies on the Forex Exchange Market.
The Dollar is of course the official currency of the United States, but is also used as official currency in 23 other countries. The US Central Bank, the Federal Reserve Bank (also called "The Fed"), is the official issuer of the US Dollar, while in India, the Reserve Bank of India has this responsibility. The rupees, also called Taaka or Rupayya, are also used in Bhutan and Nepal.
The two currencies have a very different inflation rate, as the Indian Rupee has a high inflation index at 4.90%, while the USD, a very stable currency which exist since 1792, is only at 0.10%.
In India, the frequently used coins include ₹1, ₹2, ₹5, ₹10 and the frequently used banknotes include ₹5, ₹10, ₹20, ₹50, ₹100, ₹500, ₹1000.