Indian pie explained

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 of a pice, of an anna or 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 demonetized in 1947 as it had become practically worthless due to inflation during WW2.^[2]

Notation

The first number is the number of rupees, the second is the number of annas (1/16), the third is the number of pices (1/64), and the fourth is the number of pies (1/192). Examples are below.

• Rs 1/15/3/2 = Rs 1.9947
• Rs 1/8/3 = Rs 1.546
• Rs 1/4 = Rs 1.25

Notes and References

1. Laughlin. J. Laurence. September 1893. Indian Monetary History. Journal of Political Economy. 1. 4. 593–596. 10.1086/250171. 153692183 . 0022-3808.
2. 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 or of a farthing 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/)