Which one of the following was one of the major currencies in circulat

Which one of the following was one of the major currencies in circulation in India when the East India Company first considered the introduction of a uniform currency?

Awadh Silver Rupee

Arcot Silver Rupee

The Madras Silver Rupee

Sindh Rupee

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UPSC Geoscientist – 2022

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Arcot Silver Rupee was one of the major currencies in circulation in India when the East India Company first considered the introduction of a uniform currency.

Before the standardization efforts by the East India Company, India had multiple regional currencies. The Arcot Rupee, issued by the Nawab of Arcot, was widely circulated in South India and formed the basis for the initial coinage introduced by the Madras Presidency before the eventual adoption of a uniform rupee standard across British India.

The East India Company aimed to establish a uniform currency system based on the silver rupee, which was finally achieved with the Coinage Act of 1835, leading to the introduction of the Company Rupee based on the standard weight and purity of the Farakhabad Rupee (a variant of the Mughal rupee) and incorporating features from other prevalent coins like the Arcot Rupee.

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