DID YOU KNOW !!!





Here a few interesting facts compiled from the fan page of MONEY MATTERS on Facebook, enjoy reading :

1. Indian Rupee has joined the elite club of currencies which have their own unique symbol. It is the fifth currency in the world after US Dollar, Great Britain (UK) Pound, Japenese Yen and Euro to have its own symbol.


2. In India, One Rupee currency notes bear the signature of the Secretary, Ministry of Finance, whereas currency notes of all other denominations are signed by the Governor of Reserve Bank of India.


3. Rising prices of steel have made Rupee coins worth less than their metal value. This has led to noticeable shortages of coins in parts of India due to individuals illegally melting them and using the steel to manufacture razor blades. The blades are then smuggled out of the country.


4. India's highest individual taxpayer for the financial year 2009-10 is Analjit Singh, the founder and chairman of Max India, a diversified business group with interests in healthcare, IT services, and financial services. He paid advance tax of Rs 99.7 crore (Rs 997 million).
Finance Did You Know


5. The Bombay Stock Exchange (BSE) is the oldest stock exchange in Asia and with 4900 listings, it has the third largest number of listed companies in the world. Its first name was 'The Native Share & Stock Brokers Association'.



6. PIIGS is an acronym used to refer to the five Eurozone nations, which were considered economically weaker following the financial crisis: Portugal, Italy, Ireland, Greece and Spain. Since the nations use the euro as their currency, they were unable to employ independent monetary policy in order to help battle the economic downturn. The economic troubles of the PIIGS nations reignited debate about the efficacy of a single currency employed among the Eurozone nations.



7. Hyperinflation in Zimbabwe began in the early 2000s . Figures from November 2008 estimated Zimbabwe's annual inflation rate at 89.7 sextillion or 1021 percent. By December 2008, inflation was estimated at 6.5 quindecillion novemdecillion percent (6.5 x 10108%, or 65 followed by 107 zeros). In April 2009, Zimbabwe abandoned printing of the Zimbabwean dollar.

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