British Indian (Rupee)

Main articles: Pakistani rupee and Indian rupee

Bank of Hindostan - Sixteen Sicca Rupees.

The silver coin remained in use during the Mughal period, Maratha era, as well as in British India. Among the earliest issues of paper rupees include the Bank of Hindostan (1770–1832), the General Bank of Bengal and Bihar (1773–75, established by Warren Hastings), and the Bengal Bank (1784–1791).

There were three distinct series: uniface, commerce motif, and Britannia motif. Early issues included Rs. 10, 16, 20, 50, 100, 250, 500 and 1000, based on 16 Sicca rupees to each gold Mohur. Three years after taking over, the Raj introduced the Paper Currency Act of 1861.

Reserve Bank of India-10 Rupees (1937).

The British Indian rupee was a silver-based currency during much of the 19th century, which had severe consequences on the standard value of the currency, as stronger economies were on the gold standard. During British rule, and the first decade of independence, the rupee was subdivided into 16 annas. Each anna was subdivided into 4 pices. So one rupee was equal to 64 pice (paisa) and 192 pies as 1 Pice was equal to 3 pies. In 1957, decimalisation occurred and the rupee was divided into 100 naye paise (Hindi/Urdu for new paisas). After a few years, the initial "naye" was dropped.

For many years in the early and mid-20th century, the Indian rupee was the official currency in several areas that were controlled by the British and governed from British India; areas such as East Africa, Southern Arabia and the Persian Gulf.

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