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Coins of Union of India 1947 1950
Coins of Union of India 1947 1950

Tuhin Sarkar
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At Independence on 15 August 1947 India was partitioned into the new British Dominions of India and Pakistan. The new Dominion or Union of India retained the previous imperial currency with images of British monarchs. The basic unit of currency was the Indian rupee which was itself divided into annas 16 annas to a rupee and pice the old spelling of paise - 64 pice to a rupee . The lowest-denomination Indian coins the half-pice 128 to a rupee and the pie 192 to a rupee officially became obsolete in 1947 while both denominations had continued to circulate up to that time new examples were not minted after 1942 as they were practically worthless India remained a member of the sterling area after independence and the rupee remained pegged to the pound sterling. Until 1966 the rupee was worth 1s.6d or 18 old pence a half-pice was therefore worth 0.135 old pence and a pie 0.09 old pence.

Posted On : 1/20/2014 8:10:56 PM

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