Image courtesy: Indian Express Archives-1935
Silver Price Range: Rs. 56-8 to Rs. 56-15 per kilogram.
Gold Price Range: Rs. 42-5-3 to Rs. 42-8-3 per 10 grams.
Wheat Price: Rs. 4-4-6 to Rs. 4-5-9 per maund (37.3 kg).
Groundnuts Price: Rs. 40-7-6 per maund (37.3 kg).
Image courtesy: Indian Express Archives-1940
Image courtesy: Illustrated Weekly 1936
Currency Hierarchy in 1940s India
During the pre-independence era, the currency system in India followed a unique structure under British rule:
1 Rupee = 16 Annas
The rupee was divided into 16 parts, called "annas." Each anna could be further divided into smaller units.1 Anna = 4 Paisa
An anna was split into four paisa, which were the smallest units in circulation.1 Paisa = 3 Pies
The pie was the smallest denomination and was rarely used in significant transactions.
The format used to indicate prices, such as Rs. 56-8, represents:
- 56 Rupees and 8 Annas, where "8 annas" equals half a rupee.
Thus, Rs. 56-8 would mean Rs. 56.50, and Rs. 40-7-6 would translate to Rs. 40.46.
