Bhutan's first modern decimal coinage, introduced in the early 1950s, was produced as the kingdom began cautiously standardizing its monetary system under Jigme Dorji Wangchuck's reign. These pieces were struck at the Indian Government Mint in Calcutta, reflecting Bhutan's close economic dependency on India at the time — a relationship formalized through the 1949 Indo-Bhutan Treaty, which gave India significant influence over Bhutanese foreign policy.
The pice denomination itself was borrowed directly from the Indian system, where it represented one-quarter of an anna.
Bhutan's first modern decimal coinage, introduced in the early 1950s, was produced as the kingdom began cautiously standardizing its monetary system under Jigme Dorji Wangchuck's reign. These pieces were struck at the Indian Government Mint in Calcutta, reflecting Bhutan's close economic dependency on India at the time — a relationship formalized through the 1949 Indo-Bhutan Treaty, which gave India significant influence over Bhutanese foreign policy.
The pice denomination itself was borrowed directly from the Indian system, where it represented one-quarter of an anna.