1 Rupee, Persian Gulf Issue, 1957. Graded (VF) – tezbid

1 Rupee, Persian Gulf Issue, 1957. Graded (VF)

  • Rs. 16,000.00

One Rupee Banknote - issued by the Reserve Bank of India for use in the Persian Gulf countries of the United Arab Emirates, Kuwait, Oman, Bahrain and Qatar. Signed by AK Roy. This note was equal to One Indian Rupee, and had an identical size and design, but was colored differently to distinguish it from the INR.

Many of the Gulf countries did not have currencies of their own till 1970, and used the Indian rupee. After 1947, the Indian government wanted to stop the outflow of hard currencies from India via the Gulf route. These notes were introduced in 1959 to replace the Indian banknotes that were being used in the Gulf states, and were meant for exclusive circulation outside the country. This currency was abandoned after the devaluation of the Indian rupee in the late 1960s - most of the currencies of Gulf countries date from after 1969. 

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This note has been graded as Very Fine 25 by PMCS. 

The note you get will be the note in the picture.