Consider the following statements 1 The rupee coin was first minted in India during the rule of East...........

Economic Affairs Money Supply and Monetary Policy

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Consider the following statements:

1. The rupee coin was first minted in India during the rule of East India Company.

2. Rupee as a national currency is used in India, Pakistan and Nepal.

Which of the above statement is/are correct:

1 only

2 only

Both 1 and 2

Neither 1 and 2

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Explanation:

Sher Shah Suri, during his five-year rule from 1540 to 1545, set up a new civic and military administration and issued a coin of silver, weighing 178 grains, which was termed the Rupiya.
Rupee is today used as the national currency in India, Indonesia, Maldives, Mauritius, Nepal, Pakistan, Seychelles, Sri Lanka among other countries.