The first series of coins with the new rupee sign started in circulation on 8 July 2011. The parallel lines at the top are said to make an allusion to the tricolour Indian flag, and also depict an equality sign that symbolises the nation's desire to reduce economic disparity. It was derived from the combination of the Devanagari consonant "र" and the Latin capital letter "R" without its vertical bar.
In 2010, a new rupee sign was officially adopted. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. The issuance of the currency is controlled by the Reserve Bank of India. The rupee is subdivided into 100 paise, though as of 2019, coins of denomination of 1 rupee are the lowest value in use. The Indian rupee is the official currency of India. With the help of Reddit, the site became an instant hit.
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It is the current shirt sponsor of Watford Football Club.ĭ promotes the currency as the "fun and friendly Internet currency", referencing its origins as a "joke." Software engineers Billy Markus and Jackson Palmer launched the satirical cryptocurrency as a way to make fun of Bitcoin and the many other cryptocurrencies boasting grand plans to take over the world. It was introduced on December 6, 2013, and quickly developed its own online community, reaching a market capitalization of over $85 billion on May 5, 2021.
Dogecoin features the face of the Shiba Inu dog from the "doge" meme as its logo and namesake. Despite its satirical nature, some consider it a legitimate investment prospect. It is considered both the first "meme coin", and, more specifically, the first "dog coin". Dogecoin is a cryptocurrency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a "joke", making fun of the wild speculation in cryptocurrencies at the time.