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base info Polygon

Polygon to Indian Rupee Converter and calculator

Convert 1Polygon (MATIC) to Indian Rupee (INR) equals ₹ 56.23 | Bitget

INR information

About the Indian Rupee (INR)

What Is the Indian Rupee (INR)?

The Indian Rupee, designated by the ISO code INR, is the official currency of the Republic of India. The term 'rupee' is derived from the Sanskrit word 'rupyakam,' meaning a silver coin. The Indian Rupee got its symbol (₹) in 2010, which is a blend of the Devanagari 'Ra' and the Roman capital 'R' without its vertical bar. The Indian Rupee is the sole legal tender in India, and it is used for all transactions within the country.

The Indian Rupee is issued by the Reserve Bank of India (RBI), which is the central bank of India. The RBI is responsible for the regulation and management of the Indian currency and monetary policy. It oversees the issuance and supply of the rupee, ensuring stability and integrity in the country's financial system. The RBI also implements measures to combat counterfeiting and manages the currency's design and denominations.

What Is the History of INR?

The Coinage Act of 1835 standardized coinage in India, introducing coins bearing the effigy of William IV and later Queen Victoria. The rupiya, originally a silver coin, faced devaluation against gold during the 19th century due to the discovery of large silver reserves in Europe and the U.S. During World War II, the regular rupee was replaced with Quaternary Silver Alloy, and post-independence in 1947, India continued using the existing currency until the adoption of its constitution in 1950. In 1957, India introduced a decimal currency system, dividing the rupee into 100 paise.

Notes and Coins of INR

The current series of Indian currency includes notes of various denominations such as 10, 20, 50, 100, 200, 500, and 2000 INR. Each denomination has its unique color scheme and design elements, making them easily distinguishable. The coins, ranging from smaller denominations like 1, 2, 5, and 10 rupees, are minted in various metals and also feature emblematic designs representing India's cultural and historical ethos..

Economic Impact and Exchange Rate Management

The demonetization in 2016 aimed to disrupt the underground economy and curb the financing of illegal activities. This move led to the issuance of new 500 and 2000 INR notes in the Mahatma Gandhi New Series. The RBI's strategy does not peg the INR to a specific foreign currency, but instead aims to reduce exchange rate volatility through market interventions. This policy reflects a preference for a stable yet flexible exchange rate system, adapting to global economic dynamics.

What Is Digital Rupee?

The Digital Rupee, also known as e₹ or eINR, is a digital version of the Indian Rupee, issued by the Reserve Bank of India (RBI) as a central bank digital currency (CBDC). Launched in December 2022, it utilizes blockchain distributed-ledger technology for secure transactions. The Digital Rupee is uniquely identifiable and regulated by the RBI, ensuring its reliability as legal tender. It is designed to be accessible both online and offline, catering to a wide range of financial transactions. The RBI has introduced two versions: the Digital Rupee for Wholesale (e₹-W) for interbank settlements and the Digital Rupee for Retail (e₹-R) for consumer and business transactions. This initiative aims to reduce the costs associated with physical currency, enhance transaction efficiency, and support India's growing digital economy. Unlike cryptocurrencies, the Digital Rupee is a sovereign currency, backed by the RBI, and holds the same value as its physical counterpart.

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Bitget crypto-to-fiat exchange data shows that the most popular Polygon currency pair is the MATIC to INR, with for Polygon's currency code being MATIC. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for INR.

MATIC to INR conversion rate trend

1D7D1M3M1YAll
In the past 1D, Polygon has changed -2.40% to INR. Based on the trend and price charts, Polygon(MATIC) has changed -2.40% to INR while Indian Rupee(INR) has changed % to MATIC in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
₹56.07
0.0001% / 0.0004%vip-iconVIP
Binance
₹56.05
0.1000% / 0.1000%
Yes
Coinbase Exchange
₹56.04
0.1000% / 0.1000%
Yes
Kraken
₹56.16
0.1000% / 0.1000%
Yes
OKX
₹56.05
0.080% / 0.100%
Yes
Huobi
₹56.07
0.1000% / 0.1000%
Yes
Gate.io
₹56.03
0.1000% / 0.1000%
Yes
Bybit
₹56.08
0.1000% / 0.1000%
Yes
KuCoin
₹56.04
0.1000% / 0.1000%
Yes
Bitfinex
₹56.26
0.1000% / 0.1000%
Yes
Last updated 2024/04/17 15:00:28(UTC+0)

What factors influence the conversion rate of Polygon to Indian Rupee?

Polygon to Indian Rupee is falling this week.
Polygon's current market price is ₹ 56.23 per MATIC, with a total market cap of ₹ 556,365,971,529.09 INR based on a circulating supply of 9,894,742,000 MATIC. The trading volume of Polygon has changed by -36.13% (₹ -12,550,146,574.04 INR) in the last 24 hours. Last trading day, MATIC's trading volume was ₹ 34,735,986,266.41.
Market cap
$6.65B
24h volume
$265.24M
Circulating supply
9.89B MATIC

Conversion tables

The exchange rate of Polygon is decreasing.
1 MATIC is currently valued at ₹ 56.23 INR , which means buying 5 MATIC will cost ₹ 281.14 INR . Similarly, ₹1 INR can be traded for 0.01778 MATIC, and ₹50 INR can be converted to 0.8892 MATIC, excluding any platform or gas fees.
The exchange rate of 1 MATIC to Indian Rupee has changed by -23.06% in the last 7 days. In the last 24 hours, the rate has fluctuated by -2.40%, reaching a high of 59.36 INR and a low of 55.68 INR . One month ago, the value of 1 MATIC was ₹ 86.68 INR , which represents a -35.17% change from its current value. Over the last year, Polygon has changed by
-
41.79INR
, resulting in a change of -42.68% in its value.

MATIC to INR

Amount
15:06 today
0.5 MATIC
28.11
1 MATIC
56.23
5 MATIC
281.14
10 MATIC
562.28
50 MATIC
2,811.42
100 MATIC
5,622.84
500 MATIC
28,114.22
1000 MATIC
56,228.44

INR to MATIC

Amount15:06 today
0.5INR0.008892  MATIC
1INR0.01778  MATIC
5INR0.08892  MATIC
10INR0.1778  MATIC
50INR0.8892  MATIC
100INR1.78  MATIC
500INR8.89  MATIC
1000INR17.78  MATIC
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Today vs. 24 hours ago

Amount15:06 today24 hours ago24h change
0.5 MATIC$0.3361$0.3444
-2.40%
1 MATIC$0.6722$0.6887
-2.40%
5 MATIC$3.36$3.44
-2.40%
10 MATIC$6.72$6.89
-2.40%
50 MATIC$33.61$34.44
-2.40%
100 MATIC$67.22$68.87
-2.40%
500 MATIC$336.11$344.37
-2.40%
1000 MATIC$672.23$688.74
-2.40%

Today vs. 1 month ago

Amount15:06 today1 month ago1M change
0.5 MATIC$0.3361$0.5181
-35.17%
1 MATIC$0.6722$1.04
-35.17%
5 MATIC$3.36$5.18
-35.17%
10 MATIC$6.72$10.36
-35.17%
50 MATIC$33.61$51.81
-35.17%
100 MATIC$67.22$103.63
-35.17%
500 MATIC$336.11$518.14
-35.17%
1000 MATIC$672.23$1,036.28
-35.17%

Today vs. 1 year ago

Amount15:06 today1 year ago1Y change
0.5 MATIC$0.3361$0.5859
-42.68%
1 MATIC$0.6722$1.17
-42.68%
5 MATIC$3.36$5.86
-42.68%
10 MATIC$6.72$11.72
-42.68%
50 MATIC$33.61$58.59
-42.68%
100 MATIC$67.22$117.19
-42.68%
500 MATIC$336.11$585.93
-42.68%
1000 MATIC$672.23$1,171.86
-42.68%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.