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The Gold (Control) Act, 1968 is a repealed Act of the Parliament of India which was enacted to control sale and holding of gold in personal possession. High demand for gold in India with negligible indigenous production results in gold imports, leading to drastic devaluation of the Indian rupee and depletion of foreign exchange reserves to alarming levels.
The tola formed the base for units of mass under the British Indian system, and was also the standard measure of gold and silver bullion. [1] Although the tola has been officially replaced by metric units since 1956, [ 8 ] it is still in current use, and is a popular denomination for gold bullion bars in Bangladesh , India , Nepal , Pakistan ...
English: This chart shows the nominal price of gold along with the price in 1971 and 2011 dollars (adjusted based on the consumer price index). The historical gold price was obtained from www.igolder.com; CPI was obtained from www.rateinflation.com. The data is in section Chart Data.
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). When the rupee was decimalised and subdivided into 100 (new) paise, one anna was therefore equivalent to 6.25 paise.
The most valuable was the star pagoda, 100 of them were worth 350 rupees, issued by the English East India Company at Chennai. [3] [4] A star pagoda weighed 3g (of gold). [5] The second was the Porto Novo pagoda, issued by the Dutch at Thoothukudi and also by the Nawabs of Arcot, and worth about 25% less than the star pagoda. [6]
Gold mohurs issued by the Mughal Empire, Imperial India, the British East India Company or the British India are valuable collector items and sell in auctions for high prices. The double mohur (minted between 1835 and 1918) with a value of 30 rupees is the highest denomination circulating coin issued till date.