2020-02-28 Fri

Mir Qamar-ud-Din, the Mughal Viceroy of the Deccan claimed an independent title Asaf Jah and founded the Princely State of Hyderabad.

The coins of the Nizams were issued in the name of the Mughal Emperor till 1858 after which new coins were struck independently called ‘Hali Sicca’, i.e., the current coins. The Government of Hyderabad tried to organize private bankers and local ‘saucers’ to set up a banking company that could issue Hyderabad paper money as well. The British did not allow this to happen. In 1918 though, due to the shortage of silver and due to Hyderabad’s and India’s contributions in the First World War, special Princely State paper currency in denominations of Rupees 100 and Rs 10 was issued under the Hyderabad Currency Act. These notes dated back to the ‘Fasil’ era. Unlike the ‘Hijri’ Calendar, it was Solar and the names of the months were Persian in origin.

Hyderabad currency was designated the Osmania Sicca and the notes were printed by Messrs Waterlow and Sons. In 1919, Rupee One and Rupees Five notes were issued. Rupees One Thousand notes were issued in 1926.
Image Source: https://en.wikipedia.org