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The Indian five naye paise (Hindi: पाँच नए पैसे) (singular: Paisa), was a unit of currency equaling 1 ⁄ 20 of the Indian rupee. The symbol for paisa is p . History
Prior to 1957, Indian rupee was not decimalised and the rupee from 1835 to 1957 AD was further divided into 16 annas. Each anna was further divided to four Indian pices and each pice into three Indian pies till 1947 when the pie was demonetized. In 1955, India amended the "Indian Coinage Act" to adopt the metric system for coinage.
Since then, numerous coins from 5 paise (INR 0.05) to ₹1000 (INR 1000.00) have been issued. These coins based on birth or death centenary of famous personalities or on recently dead, commemoration of special government programs or sport events, anniversaries of historical incidents, government organisation etc.
An anna (or ānna) was a currency unit formerly used in British India, equal to 1 ⁄ 16 of a rupee. [1] It was subdivided into four pices or twelve pies (thus there were 192 pies in a rupee).
In 1877, Victoria was declared the Empress of India - and her title on Indian coins changed as a result. This last design continued till 1938, with only the image of the ruler changing. Over this entire period, the weight of the Indian rupee and its purity remained constant at 11.66 grams and 91.7% respectively. [79]
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The Indian rupee (symbol: ₹; code: INR) is the official currency in the Republic of India. The rupee is subdivided into 100 paise ( Hindi plural; singular: paisa ). The issuance of the currency is controlled by the Reserve Bank of India .
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