When making these final decisions, government officials rely heavily on advice from the Reserve Bank senior staff. We offer competitive exchange rates to Canadians on all.

In addition, when the Reserve Bank estimates the demand for banknotes each year, it must file a written request that government officials must sign off on before printing. TD Foreign Exchange is a leader in currency exchange services in Canada. However, if the Reserve Bank wants to print anything higher, the government must amend the Reserve Bank of India Act. The Reserve Bank has the right to print currency up to 10,000 rupee notes. For example, the government decides which denominations are printed and the design of the banknotes, including the security features. To deter counterfeiting and fraud, the Indian government withdrew the 500 and 1,000 rupee notes from circulation in 2016.Īlthough the RBI has the power to print Indian currency, the government still has the final say on a majority of the Reserve Bank's actions. Mastercard currency converter tool calculates foreign exchange rates for all the major currencies worldwide to enable cross-border purchases and ATM.

The RBI is permitted to print currency up to 10,000 rupee notes.

The Indian government is solely responsible for minting coins.

The Reserve Bank of India (RBI) prints and manages currency in India, whereas the Indian government regulates what denominations to circulate.

All country money in indian rupees