Hyderabadi rupee

Infobox Currency
currency_name_in_local =
image_1 =
image_title_1 = Hyderabad state OS Rs. 100 issue.
iso_code =
using_countries = Hyderabad State
inflation_rate =
inflation_source_date =
subunit_ratio_1 = 1/16
subunit_ratio_2 = 1/192
subunit_name_1 = anna
subunit_name_2 = pai
symbol =
symbol_subunit_1 =
nickname =
nickname_subunit =
used_coins = 1,2 pai, ½, 1, 2, 4, 8 annas, 1 rupee
coin_gallery_1 =
coin_gallery_2 =
used_banknotes = 1, 5, 10, 100, 1000 rupees
banknote_gallery_1 =
banknote_gallery_2 =
issuing_authority =
issuing_authority_website =
obsolete_notice = y

The rupee was a separate currency of Hyderabad, independent from the Indian rupee. Like the Indian rupee, it was divided into 16 annas, each of 12 pai. Coins were issued in copper (later bronze) for denominations of 1 and 2 pai and ½ anna, in cupro-nickel (later bronze) for 1 anna and in silver for 2, 4 and 8 annas and 1 rupee.

History

The Government of Hyderabad made several efforts to organise private bankers to set up a banking company which could issued paper money. The British, however resisted the attempts of Indian princely states to issue paper currency. The acute shortage of silver during the First World War and the contributions of Hyderabad to the British war effort led them to accept, in 1918, paper currency in denominations of Rs.10/- and Rs.100/- issued under the Hyderabad Currency Act.

The currency was designated the "Osmania Sicca" (OS). One and five rupee notes were subsequently issued in 1919 and one thousand rupee notes were issued in 1926. After the setting up of the India Currency Notes Press at Nasik, Hyderabad notes came to be printed there.

Hyderabad continued to mint its own coins until 1948, until the annexation into India. In 1950, the Indian rupee was introduced alongside the local currency, with the relationship of 7 Hyderabad rupees = 6 Indian rupees being used. In 1951, the Hyderabad rupee ceased to be issued and the Indian rupee became the main circulating currency, although the Hyderabad rupee was not demonetized until 1959. [http://users.erols.com/kurrency/asia.htm]