since the great silver crisis of 1873, a growing number of nations had been adopting the gold standard. in 1898, following the recommendations of the indian currency committee, british india officially adopted the gold exchange standard by pegging the rupee to the british pound sterling at a fixed value of 1 shilling 4 pence (i.e., 15 rupees = 1 pound). in 1920, the actual silver value of the rupee was increased in value to 2 shillings (10 rupees = 1 pound). in british east africa at this time, the decision was made to replace the rupee with a florin. no such opportunity was, however, taken in british india.