Although the "sovereign" (pound sterling) is the standard coin of India, the silver "rupee" is the "money of account;" that is, the actual money in current use, and is current at the rate of fifteen to the sovereign. A "rupee" is equivalent to $.3244 1/3 United States money.2 An American dollar is roughly reckoned as the equivalent of three "rupees."

"Rs" is the sign of the "rupee." A "lac" is used to designate 100,000 "rupees." The method of writing and pointing off sums of Indian money in excess of a "lac" is thus: Rs 80,35,000, indicating 80 " lacs" and 35,000 "rupee" over; equivalent to 8,035,000 "rupees." A "crore," as a "crore of rupees," is 10,000,000 " rupees " or 100 "lacs."

India Money Table

1 pie

- -

$.0016899 +

12 pies

-

1 anna

= .0202791 +

16 annas

=

1 rupee

= .3244 1/3