Lakh

It is widely used both in official and other contexts in Afghanistan, Bangladesh, Bhutan, India, Myanmar, Nepal, Pakistan, and Sri Lanka. It is often used in Bangladeshi, Indian, Pakistani, and Sri Lankan English.

Usage

In Indian English, the word is used both as an attributive and non-attributive noun with either an unmarked or marked ("-s") plural, respectively. For example: "1 lakh people"; "lakhs of people"; "20 lakh rupees"; "lakhs of rupees". In the abbreviated form, usage such as "₹5L" or "₹5 lac" (for "5 lakh rupees") is common. In this system of numeration, 100 lakh is called one crore and is equal to 10 million.

Formal written publications in English in India tend to use lakh and crore for Indian currency and Western numbering for foreign currencies, such as dollars and pounds.

Silver market

The term is also used in the pricing of silver on the international precious metals market, where one lakh equals 100,000 troy ounces (3,110 kilograms) of silver.