Indian pie

A Bhopal State postage stamp worth 1 anna and three pies

A pie (abbreviated as Ps) was a unit of currency in India, Burma and Pakistan until 1947. It was the smallest currency unit, equal to ​1⁄3 of a paisa, ​1⁄12 of an anna or ​1⁄192 of a rupee. During the mid-nineteenth century, one pie was worth 12 cowry.[1]

Minting of the pie ended in 1942, though it remained in circulation for a further five years. The pie was demonetised in 1947 as it had become practically worthless due to inflation.[note 1]

Notation

₹1/15/3/2 = ₹1.9947
₹1/8/3 = ₹1.546
₹1/4 = ₹1.25


Notes

  1. ↑ Until 1966, India was a member of the sterling area, with the rupee pegged to the British pound sterling and having a value of 1s 6d, or 18 (old) pence; a pie was therefore worth 0.09 old pence in 1947. In 1947, however, a single old penny had an estimated purchasing power of 14 new pence (in 2014 values). Therefore, a pie had a value of 1.3 pence in 2014. (Schedule of Par Values, Currencies of Metropolitan Areas, The Statesman's Year Book 1947, pg xxiii, Macmillan & Co.; measuringworth.com/ppoweruk/)


  1. ↑ Laughlin, J. Laurence (1893-09). "Indian Monetary History". Journal of Political Economy. 1 (4): 593–596. doi:10.1086/250171. ISSN 0022-3808. Check date values in: |date= (help)
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