Lakh


A lakh is a unit in the Indian numbering system equal to one hundred thousand. In the Indian convention of digit grouping, it is written as 1,00,000. For example, in India 150,000 rupees becomes 1.5 lakh rupees, written as 1,50,000 or INR 1,50,000.
It is widely used both in official and other contexts in Bangladesh, Bhutan, India, Myanmar, Nepal, Pakistan, and Sri Lanka. It is often used in Indian, Bangladeshi, Pakistani, and Sri Lankan English. In Pakistan, the word lakh is used mostly in local languages rather than in English media.

Usage

In Indian English, the word is used both as an attributive and non-attributive noun with either an unmarked or marked plural, respectively. For example: "1 lakh people"; "lakhs of people"; "200 lakh rupees"; "lakhs of rupees". In the abbreviated form, usage such as "5L" is common. In this system of numeration, 100 lakh is called one crore and is equal to 10 million.

Silver market

The term is also used in the pricing of silver on the international precious metals market, where one lakh equals of silver.

Etymology and regional variants

The modern word lakh represents lakṣa, originally denoting "mark, target, stake in gambling", but also used as the numeral for "100,000" in Gupta-era Classical Sanskrit.