Journey of Pakistani Currency
Journey of Pakistani Currency From "Ana" to Paisa and to Rupee When Pakistan was carved out of the British India on 14 August 1947, it had no currency notes or coins of its own, nor a central bank or mint to print paper currency or mint coins. In order to cope up with the requirement of the new country, the Governor General of undivided India issued the ‘Pakistan (Monetary System and Reserve Bank) Order, 1947’ on 14 August 1947, the day before partition. Under this order, the Reserve Bank of India was to act as the common currency authority for India and Pakistan until 30 September 1948, allowing a cushion period of almost a year for the newly born state to issue its own currency. As an interim arrangement, the currency notes and coins issued by the Reserve Bank of India and the Government of India were to be the legal tender in Pakistan. Thus the currency of the Indian Reserve Bank was inscribed with words "Government of Pakistan" both i...