A paise is a unit of currency in several Asian countries, including India, Pakistan, Nepal, and Bangladesh. It is a subdivision of the main currency unit and is equivalent to one-hundredth of a larger currency value, similar to what a cent represents in the United States. The word "paise" is derived from the Hindi word "paise" (plural of "paisa") which means "money" or "coin".
In India, the paise is the smallest denomination of the Indian rupee. However, due to inflation and the decreased value of the paise, its usage has become obsolete in recent years. Most transactions are now rounded off to the nearest whole rupee, resulting in the discontinuation of coins in the denominations of one paise, two paise, three paise, five paise, ten paise, twenty-five paise, fifty paise, and one rupee.
Similarly, in Pakistan, the paise was a commonly used currency denomination until it was demonetized in 2013, and now the smallest unit of currency is the one rupee coin. In Nepal and Bangladesh, the paise is still in circulation, and coins of various denominations such as one, five, ten, twenty-five, and fifty paise are used for day-to-day transactions.
Overall, the paise serves as a fractional unit of currency, allowing for smaller transactions and making transactions in sub-rupee amounts possible.
